GBP Trading Outlook (06-10-2010)

The Sterling (GBP) rallied on USD weakness but failed to keep up with the Euro which pushed past 0.8700 on the EUR/GBP once again. September PMI services improved as expected to 52.8 vs. 51 previously. Overall the GBP/USD traded with a low of 1.5750 and a high of 1.5933 before closing the day at 1.5880 in the New York session.

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