FxWirePro: GBP/USD hits fresh session low at 1.5603 on weak UK retail sales data

GBP/USD dragged to session low at 1.5605 after UK Retail Sales came in below forecasts, rose a meagre 0.1% from June and 4.2% y/y

• The upward revision to the previous month's print failed to have any positive impact
• Immediate support is located at 1.56 handle, 30 DMA was the platform for the rebound on Tuesday, today located at 1.5588, another major support
• GBP/USD is currently trading at 1.5616, breach 30 DMA could extended losses to 1.5550 (50% of June rally)
• On the other hand, resistance is located at 1.5639 (38.2% of June rally) and 1.5690 levels
• U.S. Initial Jobless Claims and Philly Fed survey will be in focus for further direction

Resistance Levels:

R1: 1.5639 (38.2% of June rally) 
R2: 1.5646 (100 HMA)
R3: 1.5701 (Daily High Aug 19)

Support Levels: 

S1: 1.56 (Psychological Level)
S2: 1.5588 (30 DMA)
S3: 1.5563 (Daily Low Aug 18)