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UK Retail sales expected to bounce back- GBP/USD in the spotlight soon

At 6am GMT the UK will release their latest Retail Sales data covering the month of May. The consensus amongst market analysts, is that sales will have rebounded quite markedly last month. Well, looking at the GBP/USD right now, you might be forgiven for thinking that was not what the Pound was looking for, because it has barely bounced from the lows seen yesterday evening. The GBP/USD fell back to a low at 1.2655 and later closed at 1.2657. It is trying to rebound a little just now, perhaps in anticipation of a decent sales report shortly? We shall see. Technical supports are in place this morning at 1.2640 and 1.2624 (100 and 50 day moving averages respectively) The high seen so far this morning has just been set at 1.2665 

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