GBP/USD stable above 1.25 mark, US retails sales and CPI awaited

The GBP/USD pair stalled overnight reversal move and staged a minor recovery from the key 1.25 handle.

The pair's tepid recovery move to the 1.2515 level could be categorized as a technical bounce from a key psychological mark support. The pair, however, lacked any follow through momentum as Thursday's strong weekly jobless claims and consumer sentiment index continued lending some support to the US Dollar. 

Moreover, with global markets closed in observance of Good Friday, thin market liquidity conditions might continue to witness some irregular price action as traders readjust their positions ahead of key US macro data.

Today's US economic docket features - monthly retail sales and the latest CPI print for the month of March, and would be looked upon for fresh impetus during early NA session.

Technical levels to watch

On a sustained break below the 1.25 handle, leading to a subsequent break below 1.2480 horizontal support, the pair is likely to aim towards testing its next support near 1.2425-20 zone.

Conversely, momentum above 1.2515 level (session high) is likely to confront resistance 1.2535-40 area, above which the pair is likely to dart back towards 1.2575 (yesterday's high) ahead of the 1.2600 handle.