13::00 GMT - Drop back this am. has drawn GBP into a trading range below 1.7120 but still inside Tues' range- rally potential is on hold for now whilst a smaller 2/3 day balance trades between 1.7110 & 1.7130. Market is still on track for a July/ start Aug top.
13::10 GMT - GBP's sitting on 173.80~/ a 50% retrace of the latest (end-June) rise : GBP's tended to hold the mid point on pullbacks since May and is therefore positioned for another run up here. Push past 174.40 or so improves. Next refs. up: 175.50, 181.35.