MARKET UPDATE. Currency markets have continued to consolidate throughout Wednesday's session. With the price action seen on the GBP/USD yesterday, we're looking forward to UK Retail Sales data. The GBP/USD rallied more than 150 pips following the MPC Meeting Minutes as the report showed no votes for more bond purchases; however, the sterling gave up most of the gains throughout the day, currently trading at 1.5565, just 50 pips from yesterday's lows and 120 pips below the high. Just a reminder, we'll be trading live with our members during the UK Retail Sales announcement and we'll be looking to sell the pair if data surprises to the downside.
Don't forget, we will be hosting Live! Trading sessions this week. Premium members may access the direct link in the Members Downloads section. The room will be open 15 minutes prior to trading.
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