For the 24 hours to 23:00 GMT, the GBP rose 0.50% against the USD and closed at 1.2799.

Data indicated that, UK’s BRC sales like-for-like dropped 0.7% on an annual basis in December, compared to a decline of 0.5% in the previous month. Market participants had anticipated retail sales across all sectors to register a fall of 0.3%.

In the Asian session, at GMT0400, the pair is trading at 1.2791, with the GBP trading 0.06% lower against the USD from yesterday’s close.

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The pair is expected to find support at 1.2737, and a fall through could take it to the next support level of 1.2682. The pair is expected to find its first resistance at 1.2825, and a rise through could take it to the next resistance level of 1.2858.

The currency pair is trading above its 20 Hr and 50 Hr moving averages.


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