GBP/USD has posted slight losses in the Thursday session. In North American trade, GBP/USD is trading at 1.3015, down 0.20% on the day. On the release, British retail sales jumped 1.1% in March, crushing the estimate of -0.3%. Over in the U.S., retail sales is forecast to improve to 0.9% and core retail sales is projected to climb 0.7%. The Philly Fed manufacturing index is forecast to dip down to 11.2, while unemployment claims is projected to rise to 207 thousand. On Friday, the U.S. releases building permits and the Treasury Department releases the semi-annual currency report.
Forex and stock traders are looking for the consistently wrong investor, trader and take the opposite position. This will obviously lead to winning trades for them. All traders have read trading books that point out that increasing volume is good for the continuation of the trend. Many new stock traders will try and fight the trend.
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