GBP/USD edging lower into a whole batch of UK data due at 7am GMT

Shortly, at 7am GMT the UK will release a raft of economic data and there is some potentially important stuff in all that. There are final Q4, 2024 readings on GDP, Private consumption and perhaps most important of that, business investment. That is expected to confirm the sharp fall that was last reported. Business investment was last reported to have fallen by 3.2% in that period. Also out at the same time is the retail sales report covering last month. Sales in February are expected to have fallen by 0.5%, compared to a rise of 2.15% in January. Ahead of all this data, the GBP/USD has fallen back. Yesterday the GBP/USD spiked into the 4pm London fix and almost touched 1.30 again (1.2992 the high). However, it later fell back to close in the US at 1.2949. The high seen earlier this morning was set at 1.2959. It is right now around 1.2940 and clearly not taking any chances with this data drop. It will move after it and an update here will try to catch that as soon as possible when it does