Markets  |  February 15, 2013 10:13:00

GBP / USD 1.5265 steaming

British retail sales surprisingly fell in January to 0.6 percent. Poor outcome is mainly due to the inclement weather that hit the food market. It is the biggest slump in sales since May 2011, which caused the wrecking and several smaller retailers. Economists expected a 0.5 percent growth.

Retail sales of refined fuel in mom fell by 0.5 percent, however, compared with January 2012 (yoy comparison) have improved by 0.2 percent. Today's data so surprised even the British Retail Consortium, which predicted even a 3 percent rise in January. Sales also not helped by high inflation (2.7 percent), which prevents consumers spend more. The central bank of the United Kingdom on Wednesday, in its report on inflation, warned that high inflation will not tame until 2016.

The British pound against the U.S. dollar this week put a high pace down. Holding in long-term declining channel, and in the morning already surpassed last important Fibonacci support level of 76.4. After a series of bad news this week, it is very likely that in the coming days, look for lows of June 2012, the price of 1526.

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