Cable saw a small sell-off today in the wake of cooler than expected CPI readings, but the pair held key 1.3000 support and appears well on its way towards testing multi-month highs at the 1.3200 level.

Tonight is an off night for the eco calendar with nothing on the docket in either UK or North America, but on Thursday the pair will see the release of UK Retail Sales which is seen as a key barometer of UK consumer health. Retail Sales have been a major drag on the UK economy but the market anticipates a massive rebound. If the data meets forecasts — it could be the catalyst to spur a further rally to take the pair towards the 1.3200 target as the week comes to a close

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