Sat, Sep 18, 2021 @ 04:19 GMT
HomeContributorsFundamental AnalysisUK's BRC Like-For-Like Retail Sales Climbed In June

UK’s BRC Like-For-Like Retail Sales Climbed In June

For the 24 hours to 23:00 GMT, the GBP slightly rose against the USD and closed at 1.3074.

In the Asian session, at GMT0300, the pair is trading at 1.3086, with the GBP trading 0.09% higher against the USD from yesterday’s close.

The pair is expected to find support at 1.3036, and a fall through could take it to the next support level of 1.2985. The pair is expected to find its first resistance at 1.3120, and a rise through could take it to the next resistance level of 1.3153.

Overnight data showed that UK’s BRC like-for-like retail sales rose 4.3% on a yearly basis in June, less than market expectations for a rise of 7.6% and compared to a rise of 10.9% in the prior month.

Moving ahead, traders would keep a watch on UK’s ILO unemployment rate and average earnings including bonus, both for June, slated to release in a few hours.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.

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DISCLAIMER : GCI's Daily Market Commentary is provided for informational purposes only. The information contained in these reports is gathered from reputable news sources and is not intended to be used as investment advice. GCI assumes no responsibility or liability from gains or losses incurred by the information herein contained.

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