18 July 2022, GBP/USD
GBPUSD trading plan:
U.S. retail sales rebounded strongly in June as Americans spent more on gasoline and other goods amid soaring inflation, which could allay fears of an imminent recession but not change the view that economic growth in the second quarter was tepid. Retail sales rose 1.0% last month, the Commerce Department said. Data for May was revised up to show sales falling 0.1% instead of 0.3% as previously reported. Retail sales increased 8.4% on a year-on-year basis and are 18% above their pre-pandemic trend. The nearly broad increase in retail sales last month was led by receipts at auto dealerships, which rebounded 0.8% after declining 3.0% in May amid shortages. Sales at service stations increased 3.6%. Online store sales rebounded 2.2%.
Investment idea: sell 1.1960 and take profit 1.1875.
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