The pound is not completely ready to give up the May gains

There some love still left for sterling

The pound is latching on to this moment of calmness to push back up towards the highs seen yesterday through Europa and the US sessions.

GBPJPY is taking another leg up, as the pound is also doing vs the euro. Cable will be eying that 1.2350 level seen yesterday.

GBPUSD 15m chart

If we get over 1.2350 then we should be taking a shot at 1.2400 and the May highs at 1.2410/15.

The key to that might be how EURGBP performs down here around the 0.8620/30 support from Tuesday.