A release of better than expected information on the British retail sales supported active appreciation of the Pound and provided an impulse strong enough to break through the 1.3228 resistance level and reach an intersection of upper boundaries of a dominant descending and junior ascending channels. As there are no significant macroeconomic data releases planned for today that could facilitate the further surge, the cable is expected to make a rebound and start the new trading week moving back to the 1.3200 mark. The only question remains strength of which pattern will prevail. Majority of traders have bullish outlook on the Sterling. However, the aggregate market sentiment is 53% bearish. In this sense, there is a need to remember that currency pair is trading in a general uptrend.
