Forex traders will pay very close attention to the EU summit over the next two days as new hurdles emerged in regards to a Brexit deal. The British Pound surged to five-month highs amid optimism that a deal will be reached, but time is running out and divisions remain. After the UK labor market showed job losses earlier this week, forex traders will get retail sales data this morning. How will this influence the GBPUSD? Subscribe to the PaxForex Daily Fundamental Analysis and grow your balance trade-by-trade.

US industrial and manufacturing data will be in focus today as traders try to assess how weak the US economy is. Since the start of the fourth-quarter, data has largely disappointed with yesterday’s dismal retail sales report raising fresh red flags. How will US economic data impact the GBPUSD? Today’s fundamental analysis will take a look at the upside potential as well as downside risk in this currency pair.