FXstreet.com (Barcelona) - Retail sales have remained unchanged in August from July, and 2.1% above the levels seen in August last year, to disappoint market expectations of a 0.2% monthly increase and a 2.6% year on year gain; the Pound has dropped 70 pips to 1.6500.

GBP/USD has given away about 70 pips, in a matter of minutes after the release of Retail sales data, and the pound, which was trading at levels close t0 1.6570, has dropped to 1.6495.

Support levels, at the moment, lie at 1.6490, and below here, 1.6400 (Sept 15 low) and 1.6380 (End Aug/Start Sept highs). on the upside, a potential recovery might find resistance at 1.6530 (Sept 16 high), and above here, 1.6555 and 1.6610.

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