It is shaping up to be a slow session in Europe, with markets generally showing little appetite so far today. Looking at dollar pairs, they are mostly little changed and that is exemplified by the 13 pips range in EUR/USD thus far:
Cable is up roughly 20 pips from before the UK retail sales data here but is continuing to keep just below 1.2900 for now. The technical picture isn't really changed but be mindful of the 200-week moving average at 1.2885. That is a notable technical point to watch ahead of the weekly close, though key resistance still sits closer to 1.3000 again for now.
Besides that, USD/JPY is holding just above 140.00 as buyers hope to keep the upside rebound going. They may get help from the BOJ next week but not before we get to the Fed policy decision on Wednesday, which is the main event that everyone will be watching.
