Today we saw some disappointing retail sales data out of the UK, which is giving the EUR/GBP another bullish correction swing, in addition to one that started last week from the 0.6909 area. This rally could lend itself to an ABC correction scenario, with a pending bearish outlook assuming the pair finds resistance in the 0.71-0.7150 area. EUR/GBP 4H Chart 7/23(click to enlarge)Earlier this week, I noted a possible resistance area between 0.71 and 0.7150. It looks like price is poised to reach this area soon. The current rally can be attributed partly to the -0.2% m/m retail sales reading for June. This disappointed the forecasts around 0.4% and took away some of the positive notion from the 0.3% print for May. The thing is, this reading is not reflective of a trend, yet. For now, it could be just a one off event, so I would not get too caught up with the negative reading. It might limit my GBP-bullish outlook, but compared the EUR, I still believe the pound has the upper hand. Therefore, I am sticking with my anticipation of resistance in the 0.71-0.7150 area. Just by eyeing the 4H chart, you can also see that this is in the 50%-61.8% retracement area. On top of that there are a lot of support/resistance clusters spotted in this area in the 4H chart above.If price and RSI creates a bearish divergence in the noted resistance area, I would be even more confident of a pending bearish attempt t oat least the 0.6950 area,