GBP USD Technical Analysis August 17 2018
The GBP declined 0.20% against the USD on Thursday and closed at 1.2708. Today in the Asian session while GBP USD technical analysis august 17, 2018 at 7:15 GMT, the GBP/USD is trading at 1.2720, which is 0.10% higher against the USD from yesterday’s close.
In the UK, the data showed that, In July 2018, the quantity purchased increased by 0.7% compared to the previous month. Recovering from a 0.5% decline in June 2018. Compared to the same month last year, the quantity purchased in July 2018 rose by 3.5% compared to a slowdown of growth of 1.1% July 2017. The amount purchased in the non-store retail sector showed strong growth in the month. And year by 4.9% and 16.9%, respectively. Comments from non-trafficked retailers indicate that online promotions encouraged increased sales. While non-food stores reported a drop in viewership in July 2018.
In Europe, UK will not release any Economic Data, but the US will release some Economic Data such as Prelim UoM Consumer Sentiment, CB Leading Index m/m and Prelim UoM Inflation Expectations.
GBP USD technical analysis august 17 2018.The pair is expected to find support at 1.2677. And a fall through could take it to the next support level of 1.2646. The pair may find its first resistance at 1.2746. And a rise through could take it to the next resistance level of 1.2770. For today the expected trading range is between 1.2677, Support and 1.2783 Resistance.
The expected trend for today is Bullish
Supports Levels: Support 1: 1.2677 Support 2: 1.2623 Support 3: 1.2558
Resistance Levels: Resistance 1: 1.2750 Resistance 2: 1.2783 Resistance 3: 1.2815
Previous day`s high: 1.2753
Previous day`s low: 1.2684