Today in forex news the retail sales news from the British Pound GBP was announced. After the news announcement the GBP strengthened on all pairs. Month over month sales volume was up 2.6% vs 0.5% forecast, and this drove the GBP higher. For traders, these pairs moved up quickly after the news was announced.
Pairs like the GBP/AUD moved strong to the upside. This pair is nearing a breakout point and we will look to prepare more forex trading plans for a buy on some of the GBP pairs next week at their respective resistance breakout points. After any news event, traders can use The Forex Heatmap® forex heatmap, which is shown below, to enter forex trades across 28 currency pairs. It works under most market conditions, or after the news for 8 currencies.
British Pound GBP Retail Sales