A solid performance from UK shoppers has calmed some nerves
Cable has been struggling into 1.2500 but the data gave buyers the incentive they needed and they weren't going to be stopped this time.
The earlier high has been taken out so the road towards grabbing some new highs should be clearer now.
GBPUSD 15m chart
What needs to happen now is the quid stays above 1.2500 and builds support. If it fails, we're heading back down again.
Much like EURUSD around the 1.0800/30 area, GBPUSD has struggled at these highs.
GBPUSD H4 chart
And much like the euro, if sellers get a sniff that the buyers are running low on fuel, they'll up their games to clear them out.
