“¢ Upbeat UK retail sales data-led modest uptick turned out to be short-lived. “¢ Resurfacing global growth concerns benefit USD’s relative safe-haven status. “¢ Traders now eye US monthly retail sales figures for some short-term impetus. The GBP/USD pair failed to capitalize on upbeat UK retail sales data-led attempted bounce and has now moved on the verge of breaking below the key 1.30 psychological mark. Having repeatedly failed to find acceptance above the 1.3100 handle, the pair remained under some selling pressure for the third consecutive session and dropped to near two-week lows amid a goodish pickup in the US Dollar demand. Today’s sluggish German/overall Euro-zone PMIs revived fears about a global economic slowdown and spread jitters across financial markets, which eventually benefitted the greenback’s relative safe-haven status against its British counterpart. Apart from resurgent USD demand, persistent Brexit uncertainty further collaborated to the ongoing slide, though it remains to be seen if the current fall is categorized as a fresh technical breakdown as Brexit headlines could easily swing it either direction. It is worth reporting that the UK lawmakers will return from their Easter break next week and any fresh Brexit developments will play an important role in driving the near-term sentiment surrounding the British Pound and help determine the near-term direction. In the meantime, today’s US economic docket – highlighting the release of US monthly retail sales, might be looked upon to grab some short-term trading opportunities amid relatively lighter trading conditions ahead of a long Easter weekend. Technical levels to watch Sustained weakness below the 1.30 handle is likely to accelerate the fall towards challenging the very important 200-day SMA, currently near the 1.2970 region, which if broken should pave the way for a further near-term depreciating move. On the flip side, the 1.3050-55 region now seems to act as an immediate resistance, above which the pair is likely to make an attempt towards reclaiming the 1.3100 round figure mark. FX Street FX Street FXStreet is the leading independent portal dedicated to the Foreign Exchange (Forex) market. It was launched in 2000 and the portal has always been proud of their unyielding commitment to provide objective and unbiased information, to enable their users to take better and more confident decisions. View All Post By FX Street FXStreet News share Read Next Weiss ratings: Ripple (XRP) payments could soon launch on Skype FX Street 4 years "¢ Upbeat UK retail sales data-led modest uptick turned out to be short-lived. "¢ Resurfacing global growth concerns benefit USD's relative safe-haven status. "¢ Traders now eye US monthly retail sales figures for some short-term impetus. The GBP/USD pair failed to capitalize on upbeat UK retail sales data-led attempted bounce and has now moved on the verge of breaking below the key 1.30 psychological mark. Having repeatedly failed to find acceptance above the 1.3100 handle, the pair remained under some selling pressure for the third consecutive session and dropped to near two-week lows… Regulated Forex Brokers All Brokers Sponsored Brokers Broker Benefits Min Deposit Score Visit Broker 1 $100T&Cs Apply 0% Commission and No stamp DutyRegulated by US,UK & International StockCopy Successfull Traders 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 2 T&Cs Apply 9.8 Visit Site FreeBets Reviews$100Your capital is at risk. 3 Recommended Broker $100T&Cs Apply No deposit or withdrawal feesTrade major forex pairs such as EUR/USD with leverage up to 30:1 and tight spreads of 0.9 pips Low $100 minimum deposit to open a trading account 9 Visit Site FreeBets ReviewsYour capital is at risk. 4 T&Cs Apply Visit Site FreeBets ReviewsYour capital is at risk. 5 Recommended Broker $0T&Cs Apply Trade gold, silver, and platinum directly against major currenciesUp to 1:500 leverage for forex trading24/5 customer service by phone and email 9 Visit Site FreeBets ReviewsYour capital is at risk.