On Friday, Feb 19th (04:30 am New York Time) we will have UK Retail Sales m/m coming out. It is expected to read -0.6 Last month it read 0.3.
This is one of the best reports to trade.
Please read what this indicator means and how it affects the GBP/USD by going to this link: UK Retail Sales
The trigger for this indicator is 0.5. This means that if UK Retail Sales m/m comes out at -0.1 (or safer level is 0.0) or higher, GBP/USD will probably go up by 40 pips or more in the first 45 minutes of the report. If it comes out at -1.1 or more negative, GBP/USD will probably go down by 40 pips or more in the first 45 minutes of the report.
Obviously, the bigger the difference between expected and actual numbers, the bigger will be the move.
In addition to the UK Retail Sales m/m number, we will have UK Retail Sales y/y coming out. If they conflict, I recommend skipping the trade, but since m/m is part of y/y number, and our trigger is quite large, the conflict is almost impossible.
To read the after-spike retracement strategy for this report click here: UK Retail Sales (after-spike retracement strategy)
For example: on Jan 22nd, UK Retail Sales m/m came out at 0.3, versus an expectation of 1.1. GBP/USD went down by around 50 pips. See for yourself what happened on this chart: Forex news trading currency exchange charts
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