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GBP Trading Outlook (30-09-2010)

The Sterling (GBP) had a quiet day holding within a rare 100 pip range. EUR/GBP took advantage to break above 0.8600 and is threatening the long term downtrend. August Mortgage approvals dropped to 49k vs. 47k previously. Overall the GBP/USD traded with a low of 1.5760 and a high of 1.5877 before closing the day at 1.5800 in the New York session. Looking ahead, September Nationwide House Prices forecast at -0.3% vs. -0.9% previously.

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