GBP Trading Outlook (01-10-2010)

The Sterling (GBP) was up and down all day with an initial rally in the open of New York sold aggressively over 200 pips lower. EUR/GBP hit new month highs and threatens the major 0.8715 resistance. UK Consumer Confidence fell to -20 in September. Overall the GBP/USD traded with a low of 1.5668 and a high of 1.5925 before closing the day at 1.5725 in the New York session.

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