The UK Retail Sales is a direct measurement of consumer activities at the retail levels. A higher release is good for the economy, thus better for its currency; a lower release is considered as negative for the economy and not good for its currency. Retail Sales makes up a substantial part of the GDP, and the effect of this release could be very profound given the recent bad news coming from UK.
The UK Retail Sales m/m number came out at 0.1% versus the expected 0.6%. Henry entered a trade immediately after the release to sell the GBP/USD at 1.5662 due to the worst release number. Fifteen minutes after the release, our trade hit the profit level at 1.5640, yielding a profit of 22 profits.