GBPUSd looking for a daily close below 1.2500 - Scotiabank

Analysts at Scotiabank noted that the BoE left policy—rates and asset purchases—unchanged, as expected, and maintained a neutral bias.

Key Quotes:

"UK retail sales rose 0.5% in November, above forecasts. Cable is sharply lower, in line with the broader USD trend but the GBP is inching higher against the soft EUR.

GBP/USD short-term technicals: bearish—Cable has lost ground for three consecutive days and the market is pressuring channel support off the early October. Intraday price action looks bearish; longer-term trends suggest major resistance at 1.28 has held the recent GBP rebound and that the broader trend lower will resume on a clear (daily close) break under 1.25."