The pound trails only the Japanese yen today on the currency leaderboard.
An upbeat UK services PMI lent a helping hand to GBP as it continues to rebound from a test of 1.5000 last week. The rise above the 100-day moving tripped some buy stops after the day and cable has been well-bid even after the UK close.
The next area of technical resistance is in the 1.5420 zone which was the mid-April high and is also the 38.2% retracement of the January-March fall. Some medium-sized orders also sit up at 1.5420/30.
