• Cable breaks 1-1/2 month high at the time of writing on account of formal triggering of article 50 on Wed.
   
• UK CPI which came earlier shows that consumer inflation jumps from 1.8% to 2.3% highest since Sep 2013.
   
• U.K retail sales rebound by 1.4% in Feb after three consecutive monthly declines. This data shows that economy is holding up and inflation back above 2% may increase expectations that BOE may raise interest rates .
   
• Technically, the pair breaks major resistance around 1.2580 and jumped till 1.25974 at the time of writing. It is currently trading around 1.25885.
   
• On the lower side, 1.2520 (resistance turned into support) will be acting as near term support and any break below will drag the pair down till 1.2460/1.2420.


• Any break above 1.25820 confirms minor bullishness , a jump till 1.2706 (Feb 2nd 2017 high).
  
  It is good to buy on dips around 1.2580 with SL around 1.2520 for the TP of 1.2706.