GBPUSD fell slightly on Friday to drop from a two-month high , with a simple activity of correction and profit taking, achieving the fifth weekly gain in a row, supporting the possibility of a new referendum on Britain’s membership in the Union European investors are looking for UK retail sales data, which provides strong evidence on the pace of recovery of the royal economy in the fourth quarter of last year.

GBPUSD was down 0.15% at 07:25 GMT, trading at $ 1.2965, the opening price at $ 1.2984. The highest at $ 1.2993 and the lowest at $ 1.2961.

GBPUSD gained 0.8% on Thursday, its second daily gain in a row, hitting a two-month high of $ 1.3000 as developments on Britain’s secession from the European Union continued.

Over the course of the week, the pound has so far gained 1% against the US dollar, making its fifth consecutive weekly gain, the longest weekly gain since December 2017.

The gains are bolstered by the growing likelihood of a new referendum on Britain’s membership in the EU, despite the British government’s repeated refusal to hold the referendum, but a campaign for the vote is now supported by some lawmakers.

The British parliament on Tuesday evening rejected the latest agreement to separate the United Kingdom from the European Union by a vote of 432 to 202, in Britain’s worst parliamentary defeat in recent history.

But he renewed confidence in the May-led government after 326 deputies voted in favor of the government in exchange for 302 deputies, giving Mai, who is fighting to preserve her political future, a new chance to present an alternative plan after the separation deal was rejected.

Later in the day, investors are looking for significant UK data on retail sales in December, which provides strong evidence of the pace of recovery of the royal economy in the fourth quarter of last year. Retail sales are one of the most important indicators of consumer spending Which represents more than 70% of the value of GDP.

Retail sales are expected to drop by 0.8% month-on-month in December from a 1.4% rise in November, with car sales expected to fall 0.6% from a 1.2% rise.