The GBP On A Massive Retreat

The GBP extended the losing path to the longest trend of the last eight months.

Presently, the GBP trades at $1.3028, which is a minor incline of $0.00395 or 0.30% from the previous close of $1.29890.

The daily range is from $1.2954 to 1.3030, while the trading volume is 254.22K.

There are estimates that BOE will decrease borrowing costs this month soared after data on Monday showed the economy shrank in November.

Additionally, the consumer price index data for December will be reported tomorrow.

The GBP dropped around $1.2970 as of 8:29 a.m. in London, taking its retreat so far this year to 2.2%.

Versus the Euro it tumbled around 0.2% to 85.86 pence, setting course for its fourth day of losses.