FXstreet.com (Barcelona) - Sterling's decline from 1.6660 European session high, has extended more than 200 pups below as an string of U.S. data has sent the Pound to explore levels below 1.6450, hitting a one-week low at 1.6432.
U.S. retail sales have increased 2.7% in August, beating market expectations of a 1.7% increase, while Producer Prices Index rose 1.7% in August, following a 0.9% decline on the previous month, and the NY Empire manufacturing Index has risen to 18.88 in September from 12.8 in August.
According to the Kshitij Consultancy Service Team, if resistance at 1.67/68 continues to hold, we could see the Pound heading towards 1.62: We would prefer a break of this Support based on flattening 55-DMA if the Resistance at 1.67-68 continues to hold this week, which would make a strong case for a dip once again towards 1.62. A break below 1.62-61 would confirm the SHS on the weekly. However, a break of 1.67-68 would increase chances of 1.70-71 once again.