GBP/USD: Sterling retreated from a 4-1/2 month low as British Prime Minister Theresa May is expected to announce the date of her departure, while investors remained concerned that the next prime minister will likely push for a more decisive Brexit deal. The major traded 0.4 percent up at 1.2709, having hit a low of 1.2605 on Thursday; it’s lowest since Jan. 3. Immediate resistance is located at 1.2757 (May 20 High), a break above could take it near 1.2827 (50.0% retracement of 1.3047 and 1.2605). On the downside, support is seen at 1.2570 (Dec. 17 Low) a break below targets 1.2529 (Dec. 14 Low). Against the euro, the pound was trading 0.2 percent up at 88.16 pence, having hit a low of 88.39 on Wednesday, it’s lowest since Feb. 14.
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