The very strong CBI retail survey will trigger near-term optimism over the UK economy. Sterling will also continue to gain near-term support from a general improvement in global risk appetite. There will be still be doubts whether the UK expansion will be sustainable, especially given a high degree of unease surrounding the housing sector and the impact of fiscal tightening. Similarly, there is also still the risk that optimism towards the global economy will also fade. In this environment, Sterling buying support is likely to fade. Given the overall risk profile, GBP/USD is a sell above the 1.5550 level even with funds looking to push it higher in the very short term.