GBP/USD bulls eye $1.2322
An attempt yesterday to push on above $1.23 has run out of steam, and now we look to see if the pair can move back below $1.2250. If today’s retail sales data does not inspire fresh buying of sterling then the next move looks to be lower.
Bulls need to push the price back above yesterday’s highs around $1.2322, and then on to $1.2477. Below $1.2250 the pair will head towards $1.2134.