GBP/USD sideways so far today

As the most eagerly awaited UK budget for more than a decade looms ever closer (October 30), the UK will release its latest (September) government borrowing data early tomorrow morning, at 6am GMT. Now more usually this comes and goes without much attention, but given the focus of where the markets are right now, it will not be ignored tomorrow morning. On Friday the GBP/USD rebounded from another look below the 1.30 handle the day before. The rise from a low point at around 1.3011 took it to as high as 1.3071 shortly after the latest UK retail sales surprisingly rose last month, defying almost all predictions for a fall. The GBP/USD later closed in the US at 1.3052 following a later session dip to 1.3020. The price action during the Asian session today has been sideways inside a range covered so far by 1.3039 to 1.3058. It is currently trading at 1.3043