GBP/USD broke above 1.5200
Cable is trading around $1.5230. Pound’s rally on hawkish UK meeting minutes and a big drop in unemployment claims was capped at $1.5250.
Morgan Stanley strategists remain bearish and recommend selling the pair on the current rallies above $1.5200, targeting $1.4975 and than $1.4815.
We remain cautious and will get ready to short the cable only on a break below $1.5075. A rise above $1.5280 (50% Fibo, July highs) could open the way for a further growth.
Chart. H4 GBP/USD