17.01 - today we will see the power of GBP.
- by Anna K.
May I remind you that we are just two weeks away from Brexit? Yes, yes. We have been talking about the UK withdrawal from EU for 4 years now and still it hasn’t happened! We are still waiting for the divorce process to see what consequence Britain is going to have to face along the way to ‘independence’ from the Union, even though it never seemed like UK was part of EU at all. This expectation of Brexit sure does pressure GBP/USD couple, because it seems that investors can’t make up their minds – do the sell or do they stay with GBP they have?
That is a tough decision.
But today the situation may change a little bit. The report that is going to come out today is going to help some of you make up your minds. Today we are going to see Retail Sales m/m. It's the primary gauge of consumer spending, which accounts for the majority of overall economic activity. This is one of the best reports that we could possibly get at this time. Are the consumers of UK ready to support their economy? Are they feeling confident in their spending and are they going to further support GBP? Answers to these questions are going to help us get all the needed information.
If you are in doubt after the report and still do not know what to do, then you can easily use your trading signals.