Pound seeing some relief
As EUR/GBP corrects lower (driven by a falling EUR/JPY) GBP/USD is getting a little respite from its recent hammering. Services PMI is out at 0830GMT, the most important of the data releases out for the UK this week (See Justin's comments here), so treading water until then.
Post FOMC data still being digested gives a little quiet time for the GBP/USD.
This feels like a good day for the GBP/USD to move. With the consensus view amongst analysts seeing a slightly bearish/cautionary note from the FED then this could be the day we start to get a GBP/USD retrace I have been waiting for.
