The UK Retail Sales disappointed traders and returned speculations of a rate cut. A stronger dollar pressured the pound as well. The selling bias around the Cable is likely to remain intact in the coming days.
The main scenario assumes an incline to 1.3040.
An alternative scenario is a pull back to the 1.2980 support.
After breaking 1.3020 the level 1.3040 will come back to the radar.
When we break the level 1.3000 the support 1.2980 comes back into play.