GBP/USD
drops from above $1.9880 to $1.9840 on the initial react to release of
weak UK retail sales data. Rate currently holds back around $1.9880.
Bids have been reported in place between $1.9830/20, with offers now
seen placed to $1.9850, more toward $1.9880 (broken support levels). A
break below $1.9820 to open a deeper move toward $1.9780/70.