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Old 20-01-2020, 10:19
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Default Re: Tifia Daily Market Analytics

GBP/USD: Current Dynamics
After the publication of data from the retail sector in the UK and the USA last Friday, GBP / USD continues to decline today for the second day in a row.
In the UK, retail sales in December fell by -0.6% in the country (v.s. a forecast of +0.7%), and in the United States, according to the report of the Ministry of Commerce, they grew by 0.3% compared to the previous month.
Strong retail sales in the 4th quarter will have a positive impact on the growth rate of US GDP, economists say, expecting GDP growth in the 4th quarter at 2.5 - 2.6%.
At the same time, weak macro data recently received from the UK reinforce expectations of a softening of the Bank of England policy at a meeting on January 30.
In the USA today is a day off on the occasion of the celebration of the birthday of Martin L. King. Therefore, trading volumes during the american trading session will be low, which, however, does not exclude the possibility of a sharp increase in volatility in the "thin market".
The volatility in the GBP / USD pair may again rise sharply tomorrow after the publication (at 09:30 GMT) of the UK labor market data. It is likely that the data will indicate a slowdown in wage growth and that unemployment is no longer dropping, although it is close to the lows over the past few years.
Meanwhile, the GBP / USD pair broke through the lower border of the rising channel on the daily chart and is trading below important resistance levels of 1.2995 (ЕМА50 on the daily chart), 1.3050 (ЕМА200 on the 4-hour and 1-hour charts).
In case of breakdown of the support levels 1.2955, 1.2910 (local lows), a further decrease in GBP / USD is likely.
Below resistance levels 1.3120 (ЕМА144 on the weekly chart), 1.3050, short positions are preferred.
Support Levels: 1.2955, 1.2910, 1.2800
Resistance Levels: 1.2995, 1.3050, 1.3100, 1.3120, 1.3210, 1.3340, 1.3510, 1.3960, 1.4350, 1.4580, 1.5080, 1.5190

Trading Scenarios

Sell Stop 1.2945. Stop-Loss 1.3010. Take-Profit 1.2910, 1.2800
Buy Stop 1.3010. Stop-Loss 1.2945. Take-Profit 1.2995, 1.3050, 1.3100, 1.3120, 1.3210, 1.3340, 1.3510



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