GBP/USD is trading below the round number of 1.3000 in reaction to the upbeat US retail sales. Headline sales rose by 1.6% in March, core sales by 1.2%, and the control group by 1%. The increase in the control group, known as the “core of the core” is somewhat more moderate when considering the downward revision in the data for February. The US Dollar reacted positively, and GBP/USD dropped off 1.3000, hitting a low of 1.2992. The fall also sent cable below the long-running uptrend support line that accompanies the pair since early March. Further support is seen at 1.2985 (April low), 1.2960 (March low), 1.2895, and 1.2830. Resistance is at 1.3030 (recent support line, and 1.3070 (recent swing high). Earlier, UK retail sales also beat expectations, helping GBP/USD escape the 1.3000 level. However, the market mood weighs on the pair. The safe-haven US Dollar rose after German Manufacturing PMI missed expectations, causing concerns about global growth. 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 US: Initial weekly jobless claims decreased by 5,000 to 192,000 FX Street 4 years GBP/USD is trading below the round number of 1.3000 in reaction to the upbeat US retail sales. Headline sales rose by 1.6% in March, core sales by 1.2%, and the control group by 1%. The increase in the control group, known as the "core of the core" is somewhat more moderate when considering the downward revision in the data for February. The US Dollar reacted positively, and GBP/USD dropped off 1.3000, hitting a low of 1.2992. The fall also sent cable below the long-running uptrend support line that accompanies the pair since early March. Further support is seen… 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.
