GBP/USD rises on stronger-than-expected UK retail sales
Stronger-than-expected UK retail sales helped GBP/USD rise towards the $1.2733 November high despite the final reading of quarter three (Q3) showing that the UK economy is on the brink of recession. It follows no growth in October (revised from a fall of 0.3%) and a final reading of Q3 which shows that the UK economy shrank by 0.1% from the previous quarter.
Support can be seen along the November-to-December uptrend line and at Thursday’s low at $1.2613 to $1.2596.
Resistance above the November high at $1.2733 sits at the current December high at $1.2794. If overcome, the 10 August high at $1.2819 would be eyed next.
https://news.google.com/rss/articles/CBMidWh0dHBzOi8vd3d3LmlnLmNvbS9lbi1jaC9uZXdzLWFuZC10cmFkZS1pZGVhcy9fZ2JwLXVzZC1yaXNlcy1vbi1zdHJvbmctdWstcmV0YWlsLXNhbGVzLWFuZC11c2QtanB5LWRyb3BzLWFtaWQtLTIzMTIyMtIBAA?oc=5
2023-12-22 09:56:38Z
CBMidWh0dHBzOi8vd3d3LmlnLmNvbS9lbi1jaC9uZXdzLWFuZC10cmFkZS1pZGVhcy9fZ2JwLXVzZC1yaXNlcy1vbi1zdHJvbmctdWstcmV0YWlsLXNhbGVzLWFuZC11c2QtanB5LWRyb3BzLWFtaWQtLTIzMTIyMtIBAA
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