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GBP/USD holding session gains above 1.3020 ahead of retail sales report
The Pound has rebounded versus the dollar since it fell back again yesterday afternoon. The rebound saw the GBP/USD lift from below 1.2980, to later close in the US at 1.3011. It has extended that move to a high so far this morning, at 1.3027. That high comes ahead of some quite important UK data, due for release at 6am GMT. That is the September retail sales report. However, sales are not expected to rise last month. The forecast is for a 0.4% fall, from a 1% rise seen in August. At the same time, annualised sales are expected to improve, by around 3.2%, compared to a prior run rate of 2.5%. The GBP/USD is currently trading at 1.3025
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