GBP/USD: Move Above 1.97 Ended By US Sales Pick Up

A brief return to levels above 1.9700 with a 1.9730 high recorded earlier in the session and a couple of dips and bounces through the figure ahead of the US data. A better than expected return for the retail sales number has knocked the Pound back to 1.9675 and profit taking looks to be shaping up a deeper pullback. A drop to 1.9580 possible as the move gathers pace.