On Thursday, the GBP/USD exchange rate was declining, as the 55-hour simple moving average had provided resistance.
At the start of the second half of London trading session, the pair was reaching new low levels and was expected to reach a pivot point at 1.3028.
UK Retail Sales
The British Pound depreciated against the US Dollar, following the UK Retail Sales release on Thursday at 09:30 GMT. The GBP/USD exchange currency rate lost 13 pips or 0.10% right after the release. The Pound continued trading at the 1.3090 level against the Greenback.
The Office for National Statistics released the UK Retail Sales data, which came out worse-than-expected of negative 0.6% compared with the forecast of 0.3%.
According to the official release: "The quantity bought in November 2019 fell by 0.6% when compared with the previous month, with only household goods stores reporting growth. Online sales as a proportion of all retailing was 18.7% in November 2019, compared with the 19.1% reported in October 2019."
Economic Calendar
On Friday, two data release should be watched by the GBP/USD traders. The UK Current Account with 8.3 to 38.4 pips at 09:30 GMT and the US Final GDP with 8.1 to 52.0 pips at 13:30 GMT.GBP/USD short-term review
On Thursday afternoon, the GBP/USD was heading to the monthly R1 pivot point, which was located at 1.3028.Hourly Chart