On Wednesday the pound/dollar was showing mixed dynamism on the market. The first half of the day saw the pound down against the dollar and in the second it was up. The UK pound is now down in Asia. At 9:15 EET, the rate was 1.5287. I expect today’s movements to be like yesterday’s. At 11:30 EET the UK will release its service sector PMI. A decent set of stats will strengthen the pound’s position against the dollar and other currencies and vice-versa. I think that it won’t venture far from the LB because the payrolls are out tomorrow.
The GBPUSD is down to 1.5263. The 1.5230 target is still on the cards.
After a break in the channel, look to 1.52.