Overall, GBP/USD is trending downwards. Recently, GBP/USD rejected the resistance level of 1.22400.
The UK retail sales m/m data (Actual: -18.1%, Forecast: -15.8%, Previous: -5.2 revised from -5.1%) released last Friday indicated a record decline in goods sold in April.
UK banks will be closed today in observance of the Spring Bank Holiday. Expect lower trading volatility and volume during the London market session.
GBP/USD’s next support level is at 1.20800 and its next resistance level is at 1.22400.
Look for selling opportunities of GBP/USD.
The UK retail sales m/m data (Actual: -18.1%, Forecast: -15.8%, Previous: -5.2 revised from -5.1%) released last Friday indicated a record decline in goods sold in April.
UK banks will be closed today in observance of the Spring Bank Holiday. Expect lower trading volatility and volume during the London market session.
GBP/USD’s next support level is at 1.20800 and its next resistance level is at 1.22400.
Look for selling opportunities of GBP/USD.