According to the report published by British Retail Consortium, the UK retail sales gained 3.6% in March. However, economic instability, growing unemployment and higher prices make British citizens abstain from purchasing costly products.
According to the monthly monitoring report, retailers increased their sales by 1.3% In March. The year-over-year increase reached 3.6%, the best result in 3 months.
Forex.
The British Pound has suspended its retracement against the US Dollar. According to , GBPUSD has suspended the downswing – wave В(С) of wave level Н16 or higher. At this point the price is forming an upswing. A break above 1.6062 will trigger wave А(С)/С inside a long-term rally. The closest major level of resistance is 1.6129. A break below 1.5804 will initiate wave А/В of a bigger wave level. The closest major levels of support are the MF sloping channel and pivot 1.5769.
