GBP/USD Trading Lower

GBP/USD is trading at 1.2427, down 0.0057. The pair is trading rangebound and a little above the session lows. Market chatter about U.K. economic data and comments from various global policy makers has kept buyers and sellers active. Earlier today the U.K. Office for National Statistics (ONS) reported that retail sales in the United Kingdom fell 0.3 percent in January versus a 2.1 percent fall December. Year over year the agency data showed U.K. retail sales slowed to a rise of 1.5 percent in January versus a rise of 4.1 percent in December.