GBP/USD: Sterling steadied after tumbling to a 5-month low below the 1.2600 handle in the prior session on the back of signs that whoever succeeds Prime Minister Theresa May is likely to be a hard Brexit proponent. The major traded 0.05 percent up at 1.2611, having hit a low of 1.2580 on Thursday; it’s lowest since Jan, 3.
Investors’ attention will remain on the UK consumer credit data, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2673 (10-DMA). a break above could take it near 1.2747 (May 27 High). On the downside, support is seen at 1.2570 (Dec. 17 Low), a break below targets 1.2529 (Dec. 18 Low). Against the euro, the pound was trading flat at 88.23 pence, having hit a low of 88.50 last week, it’s lowest since Jan. 21.
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