The GBP/USD is pushing into the high side for Friday, tapped into 1.2170. Broader market sentiment is improving, sending the US Dollar back heading into the Friday close. UK Retail Sales did little to help matters, printing firmly in the red. tail Sales earlier in the day, the Pound Sterling is benefiting from a general softening in the US Dollar . UK Retail Sales drop 0.9% MoM in September vs. -0.
2170 on Friday, with the GBP/USD seeing a Dollar-bearish fueled recovery from the day's lows near 1.2093. Despite Friday's moderate recovery, the GBP/USD remains firmly planted in bear country, with the pair trading down from October's swing into 1.2350. Further up the chart, the 50-day Simple Moving Average is confirming a bearish cross of the 200-day SMA, and any technical recoveries in the chart will be set for a clash with resistance from the descending moving average.