{"id":82032,"date":"2019-11-14T02:54:48","date_gmt":"2019-11-14T07:54:48","guid":{"rendered":"https:\/\/currencylive.com\/?p=82032"},"modified":"2019-11-14T02:49:20","modified_gmt":"2019-11-14T07:49:20","slug":"101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report","status":"publish","type":"post","link":"https:\/\/currencylive.com\/news\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\/","title":{"rendered":"GBP\/NOK: Sterling Extends Gains Against Krone Ahead of the Retail Sales Report"},"content":{"rendered":"\n\n\n
\"\"<\/a><\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n

For the fourth consecutive trading day, British pound extended its gains against the Norwegian krone in yesterday\u2019s trading session. This happened despite a soft CPI report from the UK.<\/p>\n

The pair reached an intraday high of 11.85 that aligned with the resistance level of the November 6 high but gave back most of its gains in the afternoon and Asian sessions. As of 7:00 a.m. London time, sterling traded at 11.80 against the krone.<\/p>\n

The UK election campaign is heating up, but not everything is going as planned for the Conservative\u2019s leader Boris Johnson. Just as he insisted that his country\u2019s future was in green investments and electric cars, the US giant Tesla Inc. announced that they had chosen to build their gigafactory in Germany and not the UK as previously planned. \u201cBrexit is just too risky\u201d, said Tesla\u2019s Elon Musk.<\/p>\n

Nevertheless, most polls give the Conservatives a comfortable advantage over their political competitors. Voters seem to prefer Boris Johnson over Labour Party leader Corbyn as UK\u2019s prime minister.<\/p>\n

After a lower-than-expected CPI number released yesterday, investors are now awaiting the UK\u2019s retail sales report to assess the future direction of the country\u2019s economy. Retail sales are expected to rise by 0.2% in October after a flat reading the previous month.<\/p>\n

While technical levels show a resistance level at yesterday\u2019s high of 11.85, newsflow around Brexit and the election campaign will likely keep moving the pair in the mid-term. A break above 11.85 doesn\u2019t see any meaningful resistance before the 11.90 \u2014 the upper triangle line.<\/p>\n

To the downside, the November 7 low of 11.62 could act as an important hurdle for sellers to push the price further down.<\/p>\n

\n
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For the fourth consecutive trading day, British pound extended its gains against the Norwegian krone in yesterday\u2019s trading session. This happened despite a soft CPI report from the UK. The pair reached an intraday high of 11.85 that aligned with the resistance level of the November 6 high but gave back most of its gains […]<\/p>\n","protected":false},"author":163946598,"featured_media":4696,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[1379,1726],"tags":[1396,1386,1657,1425,1843,1844,1834,1842,1840],"class_list":{"0":"post-82032","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-gbp","8":"category-nok","9":"tag-boris-johnson","10":"tag-brexit","11":"tag-british-pound","12":"tag-cpi","13":"tag-elon-musk","14":"tag-gigafactory","15":"tag-norwegian-krona","16":"tag-tesla","17":"tag-uk-retail-sales"},"acf":[],"yoast_head":"\nGBP\/NOK: Sterling Extends Gains Against Krone Ahead of the Retail Sales Report - Currency Live<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/currencylive.com\/news\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\/\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Ileana Ionescu\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/\"},\"author\":{\"name\":\"Ileana Ionescu\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#\\\/schema\\\/person\\\/3d5cb0a6a22d357fc0b9ad562f35e75b\"},\"headline\":\"GBP\\\/NOK: Sterling Extends Gains Against Krone Ahead of the Retail Sales Report\",\"datePublished\":\"2019-11-14T07:54:48+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/\"},\"wordCount\":537,\"image\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/currencylive.com\\\/news\\\/wp-content\\\/uploads\\\/2019\\\/08\\\/100543-gbp-eur-uk-service-sector-data.jpg\",\"keywords\":[\"boris johnson\",\"Brexit\",\"british pound\",\"cpi\",\"Elon Musk\",\"gigafactory\",\"Norwegian krona\",\"Tesla\",\"uk retail sales\"],\"articleSection\":[\"GBP\",\"NOK\"],\"inLanguage\":\"en-US\",\"copyrightYear\":\"2019\",\"copyrightHolder\":{\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/#organization\"}},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/\",\"url\":\"https:\\\/\\\/currencylive.com\\\/news\\\/101492-gbp-nok-sterling-extends-gains-against-krone-ahead-of-the-retail-sales-report\\\/\",\"name\":\"GBP\\\/NOK: Sterling Extends Gains Against Krone Ahead of the Retail Sales Report - 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