GBP/USD to extend its slide, 1.3530 aligns as the next target on the downside
21 January 2022, 11:38
GBP/USD has come under renewed bearish pressure on Friday. Disappointing UK data and failure of 1.3600 support points to further losses, FXStreet’s Eren Sengezer reports.
Next support for the pair aligns at 1.3530
“The UK's Office for National Statistics reported that Retail Sales in December declined by 3.7% on a monthly basis. This print missed the market expectation for a decrease of 0.6% by a wide margin.”
“On the downside, 1.3530 (Fibonacci 38.2% retracement of the one-month-old uptrend) could be seen as the next bearish target ahead of 1.3500 (psychological level).”
“Resistances are located at 1.3600 (psychological level, Fibonacci 23.6% retracement, 100-period SMA) and 1.3650 (50-period SMA, static level).”