US consumer sentiment improved, while inflation expectations fell. UK Q GDP contracted and the economic outlook was bleak. GBP/USD traders are looking at UK CPI, retail sales and US retail sales data. The British pound (GBP) was slightly lower against the US dollar (USD) at , on Friday after the University of Michigan (UoM) published a better-than-expected estimate for January in the US, while a survey showed inflation expectations were cut. of one year. . At the time of writing, GBP/USD is trading at 1.220 after hitting a daily low of 1.2150. GBP/USD , AREA AWAITS FIRST WEEK DATA , GBP/USD fell in late Europe / early New York after printing a four-week record. Data released on Thursday showed that inflation in the United States (US) is indeed cooling. December’s drop in the Consumer Price Index (CPI) below 7% and the Core Consumer Price Index (CPI) below 6% is fueling hopes that the US Federal Reserve will move to a lower rate of 25 basis points. Later, the University of Michigan (UoM) revealed that consumer sentiment was better than expected in January, with a reading of 6 .6 vs. forecast 60.5. Americans estimate that one-year inflation will accelerate from . percent to percent in December, while five-year inflation will accelerate from 2.9 percent to 3 percent. , In Great Britain, the gross domestic product (GDP) beat forecasts for a 0.1% monthly increase, while the three-month change was -0.3%, confirming a gloomy economic outlook. Looking ahead to next week, the UK economic paper includes labor market data, consumer price index and retail sales data. Across the pond, the US Economic Administration shows retail sales, US housing starts, initial jobless claims and current home sales.