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BREAKING: GBPUSD pulls back below 1.31 after retail sales miss

10:34 AM 17 January 2020

Retail sales data for December from the United Kingdom was released at 9:30 am GMT. Headline print showed a drop of 0.6% MoM (exp. +0.6% MoM) while gauge excluding fuel slipped 0.8% MoM (exp. +0.8% MoM). The reading boosts already high market odds for BoE rate cut on January 30. GBPUSD pulled back below 1.31 after the release.

GBPUSD pulled back below 1.31 handle following release of dismal retail sales data. The pair is making a major dive and near the 200-session moving average (purple line). Source: xStation5

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