Retail sales in the UK in July grew 1.1% vs. forecast for 0.7%. However, the pound did not manage to consolidate due to weak US data; Capacity Utilization in July was 77.6% vs. forecast for 77.9% and revised downwardly up to 77.7% in June. Industrial Production was flat vs. forecast for a 0.5% growth. The investors began to buy gold as well as the pound as speculative currency due to the situation in Egypt. The pound grew 140 points.
Today there is no data on the UK. At 16:30 UTC+4 data on Building Permits in July is issued; it is expected to be 0.95 million vs. 0.92 million in June. Housing starts are estimated to be 0.91 million vs. 0.84 million in June.
As the result we suppose the continuation of active growth of the pound. Probably, even today consolidation to downward movement starts its formation. The first sign of decline is consolidation of the price under the testing level 1.5572. From the practical point of view, it is off the market.