• GBP$ eking out a slight gain, +0.1% at 1.3299; Tuesday range 1.3311-1.3274

• Pair tested July lows near 1.3275 in early NorAm before moving back toward 1.33

• Oman proposes a Gulf-backed plan for Strait, Trump says good talks under way w/Iran

• Oil key metric for inflation expectations down near 5% stokes limited haven unwind

• Rate decisions/pressers in focus; Fed on Wednesday, BoE July 30, no chgs expected

• GBP$ res 1.3311 Tuesday high, 1.3378 the 55-DMA, 1.3411 the daily cloud top

• Supt 1.3274 Tuesday low, 1.3329 78.6% Fib of 1.3140-1.3556, 1.3200 psychological lvl

GBP Chart:


(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)