GBP/USD Trading Higher, CBI Order Survey Falls

GBP/USD is trading at 1.3137, up 0.0029. The pair is trading choppy and in the middle of the overnight range. Market talk about the U.K. economy and weekend headline news is making the rounds. The Confederation of British Industry's (CBI) Industrial Trend Order survey showed total orders fell to minus 4 in July from minus 2 in June. U.K. manufacturer optimism declined sharply to minus 47 from minus 5 in April, it was the lowest level since April of 2009. The group is scheduled to release Business Optimism and Distributive trade surveys Wednesday.