The UK retail sales disappointed investors
Yesterday's UK retail sales were much worse than expected, but it didn’t put much pressure on the pair GBP/USD. This once again confirms that the pair is under pressure only due to political conditions.
Today, the US will publish data on Manufacturing PMI. The index of the business activity manufacturing sector is expected to grow from 51.5 to 52.0. Today, the pair GBP/USD is likely to decline to the 1.4230 area.
How to trade
The levels 1.4430, 1.4345, 1.4305, 1.4221 remain the key levels for the pair GBP/USD on the 1H chart. The short-term upward movement is possible in the range of 1.4360 - 1.4504. The short-term bearish movement is expected in the range of 1.4345 - 1.4305. We should buy call options if the pound rises above 1.4430. We should buy put options if the pair falls below 1.4345.
Expiry time: 20:00 GMT