The British pound sterling ignored the weaker than forecast retail sales numbers.
With the US dollar trading weaker, the Pound sterling is attempting to recoup the losses from earlier in the week.
Price action is back near the resistance level of 1.3128. But a strong close above this level is required to confirm further upside.
Even above this level, price action has reversed gains near 1.32555 which marks another key resistance level for the cable.
To the downside, we expect the dynamic support off the rising trend line to hold for the moment.
