• GBP/USD close above 1.3477 to complete back-to-back monthly gains

• Fits with risk of a second monthly loss for the dollar index

• Initial sterling support at 1.3527, Friday's low

• Fibo level at 1.3521, 38.2% of 1.327401.3674

• Fed rate hike bets in the mix following Warsh hawkish undertones

• Some dollar demand as ME tensions flare but market generally tight

• Sterling activity thin with London observing a Monday holiday
GBP/USD daily chart:

(Peter Stoneham is a Reuters market analyst. The views expressed are his own)