Forex Pros – The British Pound was higher against the U.S. Dollar on Friday after the release of U.K. data on Retail Sales.
GBP/USD was trading at 1.6237, up 0.39% at time of writing.
The pair was likely to find support at 1.5982, Monday’s low, and resistance at 1.6263, today’s high.
Earlier in the day, official data showed that retail sales in the U.K. rose more-than-expected to a seasonally adjusted 1.90% last month, from -1.40% in the preceding month whose figure was revised down from -0.80%.
Analysts had expected retail sales to rise 0.50% last month.
Meanwhile, the British Pound was down against the Euro and up against the Japanese Yen, with EUR/GBP gaining 0.18% to hit 0.8429 and GBP/JPY rising 0.16% to hit 134.97.
ForexPros.com
