The Royal day, our calendar is full of fundamentals from the United Kingdom, where we have seen Retail Sales fall unexpectedly in May, clearing out the demand in Europe’s second largest economy that remains anchored, in which it would result in increasing pressures on the GDP reading. Retrieved concerns had made investors leave indices, as we see them currently trading in the red zone.
The British Pound plunged for the second consecutive day to currently trade at 1.6240 levels, affected by the concerns that contraction in the United Kingdom will continue through out this year and the upcoming year. The pair recorded a high of 1.6466 and a low of 1.6186 earlier today, the pair declined in today’s European session, yet it still has the chance to incline even further only if 1.6120 remain intact, support levels are seen currently at 1.6210 and 1.6175 levels.
However, the sixteen nation’s euro inclined in the past two days but today it could not head more to the upside, where the pair is currently trading at 1.3932 levels after it recorded a high of 1.3989 and a low of 1.3905 earlier today. If 1.3825 levels remain intact, the pair might be heading to higher targets seen at 1.4460 levels. Supports are seen at 1.3860 and 1.3825 levels, and resistances are seen at 1.4015 and 1.4090 levels.
The USD/JPY pair is currently trading sideways, ending the three days decline seen previously; the pair is currently trading at 95.80 levels after recording a high of 96.08 and a low of 95.62. A resistance is seen at 96.35 and 96.70 levels and a support would be seen at 95.50 and 95.30 levels.