GBPUSD Analysis: Steeper than forecast decline in UK retail sales bearish for GBPUSD

May 22, 2020

By IFCMarkets

Steeper than forecast decline in UK retail sales bearish for GBPUSD

UK retail sales fell in April more than expected: retail sales dropped in April 18.1% over month after 5.2% decline in March, when 15.8% decline was expected. This is bearish for GBPUSD.

IndicatorVALUESignal
RSINeutral
MACDSell
Donchian ChannelSell
MA(200)Sell
FractalsSell
Parabolic SARSell

 

Summary of technical analysis

OrderSell
Buy stopBelow 1.2158
Stop lossAbove 1.2228

Market Analysis provided by IFCMarkets