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GBP/USD awaiting tomorrow's data
Today sees the gap between yesterday’s UK employment figures and tomorrow’s retail sales. So far, the week has been broadly negative for sterling, with a combination of data and comments from Janet Yellen weighing on the pound.
Over the past few days the pair has been unable to hold above $1.25, so any sign that this is about to happen again could mean another selling opportunity. It will likely take a move back above $1.26 to suggest that a rally is now in the offing.