The market has reacted to the released data on retail sales in the US. The data came out better than expected, causing the dollar to show a growth impulse. As a result, the GBPUSD pair gave a downward impulse from its intraday high at 1.2540 to the current value of 1.2500. This round support is quite capable of recharging buyers for a new upward movement. However, as we are approaching the end of the trading week, it is unclear whether there will be any volatility in the remaining hours of the day. From a technical standpoint, a new upward movement can start from the current levels. If it does, I will be waiting for an increase towards the strong diagonal resistance around 1.2590. Only from there will I consider trying to sell the instrument, as it doesn't make sense to rush into action from the current levels. I understand that everything will be decided next week during the FOMC meeting.
Comments: