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Are GBP fortunes about to change? The......>

STERLING
STERLING: Are GBP fortunes about to change? The recent downtrend off its Apr 16
high ($1.4377) touched $1.3460, but has since extended the recovery to make a
show back above $1.3600. The USD continues to retrace following last Thursday's
weak US CPI release with a number of bank trades recommending a softer
greenback. Next resistance is seen at $1.3667/73 (May2 high/61.8%
$1.3804-1.3460). GBPJPY printed Y149.00 and will look to challenge the 200-dma
(Y149.26) for the next leg higher. EURGBP eased to Gbp0.8813, support at
GBP0.8808 (100-dma).   

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