• GBP/USD recovers after steep sell-off takes it to 1.2600s. 
• Brighter UK retail sales data helps improve the outlook for the Pound Sterling. 
• BoE and Fed divergence on interest rate outlook, however, is a depresser for the pair. 

GBP/USD saw a fillip on Monday, rising by almost four tenths of a percent to the mid 1.2600s on a mixture of better-than-expected UK retail sales data, profit taking after the recent steep sell-off and the US Dollar (USD) being broadly sold following intervention by authorities to prop up their currencies in Asia.