16 June 2021, GBP/USD
GBPUSD trading plan:
U.S. retail sales fell 1.3% last month. Data for April was revised higher to show sales increasing 0.9% instead of being unchanged as previously reported. During the pandemic, demand shifted to goods like electronics and motor vehicles as millions of people worked from home, switched to online classes and avoided public transportation. More than half of eligible Americans are fully vaccinated, boosting demand for air travel, hotel accommodation, dining out and entertainment among other activities. May's decline in retail sales was also due to a drop in receipts at auto dealerships, reflecting tight supply as a global semiconductor shortage hampers motor vehicle production. Negative macroeconomic statistics from the United States will have a positive impact on the value of the European currency.
Investment idea: buy 1.4080 and take profit 1.4150.
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