The recent GBP Manufacturing PMI numbers came in above expectation and this may be enough to give sterling a boost for a session or two though the overall picture remains gloomy for GBP BULLS. Oversold conditions on the lower time frames suggest we could see a bounce here though any moves north are likely to be capped. LONG from 1.2488 with a tight STOP at 1.2481 (7 pip risk) with an initial target of 1.2569.