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 0.9% versus the expected -0.3%. Despite the much better than expected number, GBP/USD only spiked up about +23 pips immediately after the release. However, Henry entered on a BUY GBP/USD around 1.5840 due to the good release number. After about 30 minutes, we closed the trade with positive 10-12 pips of profit.