• GBP/USD hovers at weekly lows, despite better than f/c UK retail sales

• Aggressively priced BoE hikes to limit downside for now 0#BOEWATCH

• Yield support should offset stagflation fears as BoE becomes hawkish outlier

• BoE hawk prefers to lean against inflation risks via additional rate hikes

• Firm U.S. data has reduced yield advantage as Fed hikes come back into focus

• Pivotal support at 100DMA (1.2289), break likely accelerates weakness

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