GBP/USD Technical Analysis: Attempted rebound from over 1-week low remains capped post-UK retail sales

   •  For the second time this week, the pair showed resilience below the 1.3100 handle, or 100-day SMA, and staged a goodish rebound from over one-week lows. 

   •  The positive momentum lacked any strong follow-through/conviction and remained capped following the release of dismal UK monthly retail sales for September.

   •  Meanwhile, technical indicators on the daily chart have managed to hold with a mild positive bias and continue to point towards an extension of the intraday up-move.

   •  However, a convincing break below the 1.3080-75 region (weekly lows) will indicate a bearish break and accelerate the fall towards the key 1.30 psychological mark.
 

GBP/USD daily chart