Flash: GBP/USD recovers off 1.50 test - BBH

FXstreet.com (Barcelona) - Brown Brothers Harriman analysts note that for the second consecutive week, GBP/USD successfully tested the 1.50 level and recovered, the second time even more than the first.

Still, they write, “Sterling stalled at the 20-day moving average and the minimum retracement objective (~$1.5230). Sterling is likely to be sensitive to three PMI reports due next week. The last BOE meeting for Governor King is highly unlikely to see a change in stance.”