GBP/USD has failed to hold above 1.38 as the dollar gained fresh ground. Despite upbeat prospects for Britain, sterling is set to succumb to America’s shopping spree, according to FXStreet’s Analyst Yohay Elam. US Retail Sales will likely dominate trading, overshadowing Britain’s reopening “US Retail Sales is set to reveal about Americans’ buying in March. While expectations are already high at around a 5% bounce, uncertainty is high and a greater leap may be seen. Armed with another round of stimulus checks – $1,400 in March after $600 in January – a double-digit leap in expenditure cannot be ruled out. That may give the dollar another boost.” “Federal Reserve’s leaders mentioned tapering bond buys, saying it would come before raising rates. The Fed is buying $120 billion worth of bonds and mortgage-backed securities per month and any reduction in the flow of funds may cause jitters in markets – a ‘taper tantrum.’ If fewer dollars flow into markets, the currency may rise in value.” “Critical resistance awaits at 1.3810, which is the weekly high and a level that had previously capped cable. It is followed by 1.3850 and 1.3920.” “Support awaits at 1.3750, the bottom of the current range, followed by 1.37 and 1.3670 – the latter is a crucial level.” 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 Singapore: MAS kept monetary conditions unchanged – UOB FX Street 2 years GBP/USD has failed to hold above 1.38 as the dollar gained fresh ground. Despite upbeat prospects for Britain, sterling is set to succumb to America's shopping spree, according to FXStreet's Analyst Yohay Elam. US Retail Sales will likely dominate trading, overshadowing Britain's reopening "US Retail Sales is set to reveal about Americans' buying in March. While expectations are already high at around a 5% bounce, uncertainty is high and a greater leap may be seen. Armed with another round of stimulus checks - $1,400 in March after $600 in January - a double-digit leap in expenditure cannot be ruled out.… 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.