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Cable fell to 1.5988 after U.K. Retail Sales; Pullback to 1.6035

Posted by Chris Advincula on Nov 14, 2013 7:33:00 AM

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LONDON - U.K. Retail Sales fell to -0.7 percent in October versus the median expectation of no change. The previous month was +0.6%. Cable initially dropped from 1.6033 to 1.5988 at 9:30GMT.  The resilient cable however, has recovered back to its former levels of 1.6030-1.6035 on short covering and buying interest as the New York market ensued.

Chris Advincula

WorldWideMarkets

 

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