British Pound

GBP/USD Bearish Today due to Disappointing Retail Sales Data

GBP/USD Hourly (H1) Chart
GBP/USD Hourly (H1) Chart

GBP/USD: The British Pound suffered a major blow today as disappointing retail sales data added pressure to bulls, which is already suffering from Brexit and covid-19 woes. A recovery in USD’s strength aided by broad-based risk aversion also weighed down the pair causing the price to decline below the 1.2200 handle. Traders now await cues from US market hours for short term profit opportunities.

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