[kagein]

The UK retail m/m sales were up today 0.5% on the 0.3% consensus forecast. Whether the spike in the GBP is a trend reversal or a short term retracement i'm not sure yet. Ill be looking to see whether the pair hits resistance around the 1.9650-19660 price range(78.6% fib level). We seem to be stuck in this price channel on the daily chart, it could rally all the way to 1.9730. Interested to hear other opinions.