Pound Retreats After Hitting Resistance

Following yesterday's data release, the pound retreated back below 1.2800 after a sharp rally. This level is expected to remain a resistance. Above this level, yesterday's highs at 1.2860 and 1.2900 are key levels to monitor. On the downside, the initial support is at 1.2760, followed by 1.2730 and 1.2695, respectively.