Buy on a level breakthrough of 1.5927 with 1.6019 target. Stop loss = 1.5870.
Reason for the trading strategy
In May, the UK retail sales increased by 0.2% (m/m), with a forecast of 0.0% (m/m). The data reflect growth in consumer spending of British households, which forms a significant part of the country's GDP. From a technical point of view, the GBP/USD pair breaking through the 1.5927 resistance level will serve as a signal for opening long positions in the pound.