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As usual no Impact yet GBP/USD from poor CBI sales data

The latest UK Confederation of British Industry (CBI) sales data for December was much weaker than expected. The reported sales index fell to -32 from -11, where it was forecast to fall to -14. The total distributive reported sales fell to -15, from -9. However, as usual the pound has not reacted negatively to the data. This has been a theme that has been forever in place and so much so, that no matter how bad the data is, the GBP/USD just refuses to react accordingly. It is almost a standing joke in terms of the credibility of this report. So, the GBP/USD had rebounded from an earlier session low at 1.2612, to above 1.2640 as the data emerged. That means it is back above its 21 day moving average again and currently trading at 1.2648. The rebound is mostly about the dollar though, because that has now fallen back versus the Yen and the Euro, which is what has really allowed the GBP/USD to rebound 

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