The UK statistics agency released incredible retail sales figures today, they suggest a booming retail industry and as this is a major part of the UK economy a booming UK. We just don't believe it, major UK retail brands have announced significant sales figures of late, ASOS have suffered a near collapse and Mike Ashley is talking about a really poor November. If you live in th eUK you only need to walk down your high street and have a look. I can guarante that the shops are quiet, way too quiet. The figures are wrong, they must have got the seasonality wrong or some other methodology but they are wrong. Expect the next sales figures to show a collapse and the GBP to follow it.
We will continue to hold short from 1.3130 (green square at blue (B)) and still targetting 1.16 before Brexit day in March.
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