Today positive for sterling is supported by the retail volume data based on the fuel costs. The index has risen by 1.3%, the growth by 0.6% has been anticipated – it means that consumers show sufficiently high activity in comparison with the previous two months.
GBP/USD technical analysis and forecast on May 20
Pound is traded in line with GBP / USD forecast expectations for today. The RSI on the four-hour chart shows a decline from the resistance level the consolidation development is expected about the 1.4570 level. The GBP / USD forecast on May 20, 2016 assume trading in the narrow range and the pound strengthening above the 1.4600 level.
