The volume of retail sales in Britain fell by 1.4% in May – quite a plunge. Early expectations stood on a drop of 0.5%. GBP/USD is now falling to support. Pound/dollar fell to 1.6115, just above support at 1.6110, which holds for now. It stood on 1.6160 before the publication. April saw a nice rise in retail sales. This was partially attributed to the enthusiasm towards the Royal Wedding that took place at the end of the month. The reversal was expected, but not so sharp. GBP/USD fell sharply in recent days, losing the important support region of 1.6280 – 1.630. If support at 1.6110 is broken, the next level is 1.60, followed by 1.5940. The pound was hit by rising unemployment reported yesterday. Britain saw another disappointing and large in jobless claims, almost 20,000. Inflation remains high at 4.5%, although core inflation is slightly more moderate. Apart from the British weakness, the ongoing crisis in Greece also adds to a stronger dollar and a weaker pound. As the European Union is split about a solution, riots in Greece undermine the fragile government, which is on the brink of collapse. For the recent, updates, see the EUR/USD Daily forecast. 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. Yohay's Google Profile View All Post By Yohay Elam Forex News Today: Daily Trading News share Read Next Fears of Greek default take risk off the table FxPro - Forex Broker 12 years The volume of retail sales in Britain fell by 1.4% in May - quite a plunge. Early expectations stood on a drop of 0.5%. GBP/USD is now falling to support. Pound/dollar fell to 1.6115, just above support at 1.6110, which holds for now. It stood on 1.6160 before the publication. April saw a nice rise in retail sales. This was partially attributed to the enthusiasm towards the Royal Wedding that took place at the end of the month. The reversal was expected, but not so sharp. GBP/USD fell sharply in recent days, losing the important support region of 1.6280 -… 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.
