The cross trading is dominating this morning.  GBPJPY is moving higher on the back of a stronger stock market. DJIA up 106, S and P up 10, Nasdaq up 34.  The GBPJPY completed a 50% retracement of the move lower on the 21st of April, and over the last few days have moved higher to sideways. 

EURGBP is also moving lower this morning which is keeping GBP bid and EUR offered.  That pair had a few days of up/down volatility and is now moving above and below the major moving averages.

USDJPY has a bid from the stock gains this morning.