GBP$ hovers near flat at 1.2035 in early NorAm, Friday range 1.2090-20

Profit-taking boosts GBP$ off Thurs soft UK GDP, firm US GDP low sub-1.20

Reduced holiday liquidity adds to vol, shorts covered ahead of long weekend

Res at Fri high, 30-DMA by 1.2090, then 10-DMA 1.2189, Dec 19 high 1.2242

Support at Fri low 1.2020, lower 30-hr Bolli 1.2002 and Thursday low 1.1993

Sterling likely to remain under pressure vs USD, other majors as UK recession seen deepening