15 April 2022, GBP/USD
GBPUSD trading plan:
U.S. retail sales grew only 0.5%, from an upwardly revised 0.8% gain in February. Core sales, which exclude automobile purchases, held up somewhat better, at 1.1%. As a result, retail sales were up 6.9% on the year. The government's data aren't adjusted for inflation. Consumer prices have risen 8.5% in the last 12 months, so the retail sales number reflects a drop in spending in real terms, consistent with other figures that show many U.S. consumers have now run down the excess savings that they accumulated during the pandemic. However, the U.S. economy still appears to be in broadly good shape.
Investment idea: sell 1.3080 and take profit 1.3015.
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