Forex: GBP/USD falls after 1.6280 top
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GBP/USD
FXstreet.com (Barcelona) - The GBPUSD went for a corrective movement during the London morning, retracing around half of yesterday's US session plunge on fears over the "fiscal cliff". The pair topped at 1.6280 and faced a twist, falling sharply to 1.6255.
UK retail sales rose from 0.8% to 0.9% (YoY), still far from the expected 1.5%. Ex-Fuel data also failed to meet the consensus of 2.3%, by rising from 1.4% to 2.0% (YoY). The British FTSE 100 is currently going up by +0.14% on Thursday.
"The GBPUSD currency pair finished an ascending wave and started forming a new correction. Today the price may continue falling down", wrote Roboforex analyst Igor Sayadov, targeting 1.6140.
UK retail sales rose from 0.8% to 0.9% (YoY), still far from the expected 1.5%. Ex-Fuel data also failed to meet the consensus of 2.3%, by rising from 1.4% to 2.0% (YoY). The British FTSE 100 is currently going up by +0.14% on Thursday.
"The GBPUSD currency pair finished an ascending wave and started forming a new correction. Today the price may continue falling down", wrote Roboforex analyst Igor Sayadov, targeting 1.6140.
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