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21 May 2015
GBP/USD looks poised to gain on a bullish UK retail sales result – InvestingBetter
FXStreet (Barcelona) - Alpesh Patel of InvestingBetter, sees GBP/USD gains towards 1.5750 a possibility if UK retail sales supports a positive outlook for the UK economy.
Key Quotes
“The Cable at the same time looks poised to gain back some of the ground it had lost over the past couple of days if it finds enough support after the release of the Retail Sales report. Expectations are set for an uptick in consumer demand and that would bode well for the UK currency that received some support from yesterday’s BoE minutes.”
“So a spark of bullish attention should allow the Cable to look for the previous 1.5680 highs and possibly higher towards the 1.5750 area.”
Key Quotes
“The Cable at the same time looks poised to gain back some of the ground it had lost over the past couple of days if it finds enough support after the release of the Retail Sales report. Expectations are set for an uptick in consumer demand and that would bode well for the UK currency that received some support from yesterday’s BoE minutes.”
“So a spark of bullish attention should allow the Cable to look for the previous 1.5680 highs and possibly higher towards the 1.5750 area.”