GBPUSD INTRADAY BEARISH BELOW 1.4200 LEVEL
The British pound has moved to a new weekly trading-low against the U.S dollar, following much weaker than expected Retail Sales numbers from the United Kingdom economy. The GBPUSD pair currently trades around the 1.4180 level, after finding interim technical support from the 1.4168 level, as UK monthly Retail Sales fell -1.2 percent. Sterling downside pressures are likely to accelerate below the 1.4168 level, with the 1.4148 and 1.4110 levels key support.
The GBPUSD pair is intraday bearish while trading below the 1.4200 level, key intraday support is now found at the 1.4146 and 1.4110 levels.
Should the GBPUSD pair start to trade back above the 1.4200 level, key intraday resistance is found at the 1.4218 and 1.4230 levels.