Directionless mode extends as downbeat UK retail sales had minor impact on pound
Weaker than expected UK retail sales (Oct m/m -0.1% vs 0.2% f/c; y/y 3.1% vs 3.7% f/c) had minor negative impact on sterling.
Cable is slightly bid on Thursday but still holding within narrow range that extends into third day.
Double-Doji (Tue/Wed) and flat daily indicators signal lack of direction and the pair looks for a catalyst.
The downside is for now protected by cracked Fibo support at 1.2819, which guards pivotal support at 1.2768 (8 Nov low, reinforced by rising 30DMA).
Sideways-moving 20DMA (1.2875) marks upper pivot, break of which is needed to shift near-term focus higher.
Res: 1.2875; 1.2897; 1.2942; 1.2972
Sup: 1.2819; 1.2768; 1.2749; 1.2700