We were up at 1.5876 earlier, and there seems to be some views that today’s numbers (total sales balance) may be encouraging coming in around -10/12 from -22 last month.
The survey can be a bit volatile and isn’t always a great indicator of UK retail movements, but it’s giving the market something to chew on at the moment.
Cable has strong resistance just above 1.5900 wth the 200 day MA at 1.5903, but has offers ahead of it at 1.5875/85 ( 1.5882= 76.4 fibo of the 1.5904/1.5810 move). Buy stops are in place on a break of 1.5910
On the flipside there are bids down at 1.5800/10 with sell stops down through 1.5790.
Cable’s sitting around 1.5855