UK June Retail Sales fall much more than expected- GBP/USD holds for now

The UK June retail sales data has just hit the screens. The data has revealed a greater than expected fall last month. Sales fell by 1.2% in June. The annualised rate fell by 0.2% where a 0.2% rise was forecast. The annualised core rate fell by 0.8% where a 0.2% gain was forecast and the monthly core rate was equally bad. The GBP/USD fell immediately to a new session low on this news, but not actually by that much and perhaps to a degree a bad number was already priced in at the current level, relative to where it was this time yesterday? That is up for debate though and despite any excuses for the fall, this was not a good set of data. We should also note; that a bad number was expected anyway. The GBP/USD is currently trading at 1.2932