FXstreet.com (Barcelona) - The Sterling (GBP) came under pressure from multiple fronts as CBI Distributive Trades slumped to -44 vs. -35 expected leading to speculation that retail sales will be poor going forward.

Support from Equity markets and Geithner Comments stopped the fall but the wind has been taken out of the Pounds sails, said Easy Forex Team. Overall the GBP/USD traded with a low of 1.4518 and a high of 1.4734 before closing the day at 1.4560 in the New York session.