There are three major reasons to be going short GBP/USD ahead of a long weekend, Yohay Elam, an analyst at FXStreet, reports. UK Retail Sales missed estimates. Key quotes “Retail Sales plunged by 18.1% in April, worse than 16% expected and on top of minor revision. The downbeat data joins a surge of 856,500 in the Claimant Count Change – jobless claims – and a plunge in inflation to 0.8% yearly.” “China aims to tighten its hold on Hong Kong, legislating a security law that bypasses the city-state’s elected officials. The move is angering Washington and is set to trigger protests in one of Asia’s most significant financial hubs. The safe-haven US dollar is on the rise in response to the souring market mood.” “Andrew Bailey, Governor of the BoE, opened the door to setting sub-zero borrowing costs when he spoke to lawmakers earlier this week. His views contrast those of the Fed. That divergence on interest rates is weighing on GBP/USD.” 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 USD/CHF: New rebound at the near-term support line at 0.9645 – Commerzbank FX Street 2 years There are three major reasons to be going short GBP/USD ahead of a long weekend, Yohay Elam, an analyst at FXStreet, reports. UK Retail Sales missed estimates. Key quotes “Retail Sales plunged by 18.1% in April, worse than 16% expected and on top of minor revision. The downbeat data joins a surge of 856,500 in the Claimant Count Change – jobless claims – and a plunge in inflation to 0.8% yearly.” “China aims to tighten its hold on Hong Kong, legislating a security law that bypasses the city-state's elected officials. The move is angering Washington and is set to trigger… Top 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.
