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Forex pairs in this Article » GBP/USD (Barcelona) - The GBPUSD has plummeted further downwards Friday after the release of some soft retail sales data in the United Kingdom roiled the pair further during European trading. As supports are breached, the pair is now establishing fresh session lows at 1.5925, incurring a mounting loss of -0.37%.

In the United Kingdom, Retail Sales (YoY) have grown only +0.3% in December, missing consensus expectations of +1.1%. Moreover, Retail Sales (MoM) have contracted -0.1% in December, relative to projections of +0.2%. Finally, Retail Sales ex-Fuel (MoM and YoY) have revealed -0.3% in the month of December (vs. expectations of +0.1%) and +1.1% (against estimates calling for a +2.1% growth) respectively.

After a rupture of support at 1.0594, Slobodan Drvenica, an analyst at Windsor Brokers Ltd., highlights additional means of supportive correction at 1.5900 and 1.5882. Conversely, the pair will face resistance at the 1.6008 region, followed onto to 1.6038, and 1.6065.
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