Despite better than expected UK Retail Sales, GBP lost ground, partly from the threat of Brexit; now it has reached support, however, and there is a chance of short-term recovery taking shape.
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GBP/EUR: after going sideways for 9-days the pair still sees risks skewed to the downside.
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Above-expectation Retail Sales figures in November, help sterling recover after recent lower-than-expected wage data had weighed, due to delaying BOE hike time-line.
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Analysts from UniCredit are holding their forecast for a May rate hike, after U.K CPI comes out in line with forecasts.
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Wei Li, of global Asset Manager's Blackrock, see the most likely FOMC scenario as a rate hike wrapped in a dovish statement.
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Six years of relentless gain for the pound have left it "not particularly undervalued" - especially versus the euro, according to researchers at BNY Mellon.
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ING have suggested the Bank of England is going to have to relinquish concerns over the strength of sterling.
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