Flash: GBP retraces 50% gains since May 1.5 test - BBH

FXstreet.com (Barcelona) - Marc Chandler, Global Head of Currency Strategy at Brown Brothers Harriman notes that ">Sterling's decline in the recent days retraced 50% of the gains it had registered off the late May test on $1.50.

He sees that the next retracement objective is near $1.5200 and the trend line drawn off the mid-March and late May lows comes in near $1.5100 at the end of the month.