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- GBP/USD has broken 1.5250 after release of weaker than expected UK retail sales.
- UK Oct Retail sales decreased to -0.6% m/m compared to forecast of 0.5% Vs 1.9% in Sep and core retail sales declined to -0.9%. Decrease in retail sales has dampened the optimism over the country's economic outlook and reduced the chance of rate hike by BOE.
- Technically the pair is facing strong support around 1.5220 (55 4H EMA) and any break below targets 1.5150/1.5080.
- Short term bullishness only above 1.5300
It is good to sell on rallies around 1.5260-65 with SL around 1.5300 for the TP of 1.5180/1.5150
