The Sterling (GBP) UK banks are closed for the 4 day Jubilee celebrations so the GBP/USD was relatively quiet and has not yet broken its downtrend channel to join in with the other majors in a rally. The GBP/USD closed at 1.5400 and would be targeting 1.5500 in a short squeeze was to occur later today. Also ahead, May EU PMI services forecast at 46.5. Also April German Industrial Orders forecast at -1 vs. 2.2% previously.
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