January month UK retail sales will become an important reading for the GBP traders. Other than the retail trade report, developments relating to Brexit as well as the US-China trade discussions going on Beijing could also direct near-term trade sentiment of the GBP/USD pair.
Put simply, market sentiment is bearish on EUR/USD and hence, a bounce, if any, could be short-lived. Validating that argument is the last week's bearish close below the 200-week MA. Read more
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