• GBP/USD quietly consolidating as spot remains pinned to the 200DMA cluster (1.3410-24)

• UK retail sales completes hat-trick of soft data prints (Jobs, CPI also weaker)

• Waller leans hawkish, though signals no action in the near-term

• Bias stays lower with spot holding below 1.3485-1.3500

• That said, failure to sustain dips through 1.34 suggest we are in for a spell of more sideways action
GBP trade


Justin McQueen is a Reuters market analyst. (The views expressed are his own). ((Email: ))