The UK macro calendar offered a data-light week. Today is a quiet day on the markets due to lack of macroeconomic data. Things should be picked up rapidly from Thursday. Data on Retail sales are due for release on Thursday. At Friday's session, the cable rejected at 50Dsma and erased most of its losses. We advised strong resistance existed between 1.5010, 1.5035, and 1.5055 in Friday's article . The cable made a high at 1.5054 and changed its direction from there. Until the cable closes below 1.5055 50Dsma, use every rise to sell. Today, the pair is trading on a negative bias at the Asian session. Safe buying will trigger above 1.5055 with targets at 1.5130 and 1.5160 the 61.8 fib level. Intraday support is found at 1.4916 and resistance is seen at 1.5020 and 1.5055. Traders can sell below 1.4900 with targets at 1.4850, 1.4800, and 1.4750. Below 1.4800, selling pressure might double towards 1.4750 and 1.4700.
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