Pound trying to find support ahead of US retail data tomorrow

Taking a look at the pound vs dollar forex pair as the pound has broken out of the channel drawn on the daily chart, but it seems like selling pressure is now pulling it back. Currently, the pound is trading at around £1.2793, the support here was roughly the level of £1.2806, which was previously the key resistance. The pair has actually now fallen back into the channel but buyers have rushed in as we saw by yesterday’s candlestick. The pair is now trying to find some support with the upper half of the channel, perhaps around the resistance-support zone. Consolidation around this area would increase the likelihood of a continuation higher, but it is deemed that no major volatility will occur until the US data tomorrow. The US is expected to report retail sales which will offer insight into the well-being of the US economy. The resistance here in focus is not the high of $1.2893, a move above could ignite a push towards £1.30. Towards the downside, a move below £1.2746 may see a pullback towards £1.2650-£1.2700. Looking at the technical indicators, they are still positive with an RSI reading 62.