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UK retail sales rise 0.4% – GBP/USD bounces

A positive surprise from the UK: retail sales rose 0.4%, defying expectations for a fall. Year over year, we have a rise of 4.3%, also beating predictions for a rise of 3%. Also sales ex-fuel surprised with a rise. It seems that Christmas shopping was quite strong.

GBP/USD is reacting  positively, rising back to 1.4990. Can it  retake 1.50? Not so fast apparently.

The United Kingdom was expected to report a drop of 0.6% in retail sales for the month of December after a jump of 1.6% in November (before revisions).

GBP/USD was trading on very low ground, at around 1.4960.

The British Monetary Policy Committee voted unanimously against raising the rates amid falling inflation. The big QE decision from the ECB eventually triggered a strong US dollar rally that sent GBP/USD below 1.50.

More:  GBPCHF Forming A Breakout Pattern

Yohay Elam

Yohay Elam

Yohay Elam: Founder, Writer and Editor I have been into forex trading for over 5 years, and I share the experience that I have and the knowledge that I've accumulated. After taking a short course about forex. Like many forex traders, I've earned a significant share of my knowledge the hard way. Macroeconomics, the impact of news on the ever-moving currency markets and trading psychology have always fascinated me. Before founding Forex Crunch, I've worked as a programmer in various hi-tech companies. I have a B. Sc. in Computer Science from Ben Gurion University. Given this background, forex software has a relatively bigger share in the posts.