Forex traders will get UK retail sales for December prior tot he Bank of England interest rate decision. Economists expect no change at today’s meeting, but with Brexit moving ahead in roughly six weeks, the press conference will receive additional attention. The GBPAUD moved away from its post-election peak, how will the Bank of England impact price action in this currency pair? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

The Australian economy added more jobs than expected in November, adding to a minor rally in the Australian Dollar. November’s report more than erased October’s contraction in the labor market. The RBA was also less active in the force market and the GBPAUD corrected from its intra-day high into its horizontal support area. What impact will today’s UK economic data and central bank decision have on price action? Today’s fundamental analysis will take a look at price action in both directions.