Supportive UK economic cues cap downside for GBP/USD as 1.3300 mark approaches

The British Pound eased today, holding onto the recent downturn though supportive economic data capped downside. Office for National Statistics data showed that UK retail sales advanced 0.5 percent in September from the previous month, marking the fourth consecutive rise and took the total volume to the highest level since July 2022. Further, survey results from market research group GfK showed that the British consumer sentiment improved moderately in October. The consumer confidence index rose to -17 from -19 in September. Four measures were up and one was down from the previous month. GBP/USD futures moved towards a one and half week low of 1.3300 mark today but edged up thereafter. The pair currently trades at 1.3316, down marginally on the day. GBP/INR futures are trading at 117.02, down 0.21% on the day after falling under 117.90 mark briefly.

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