GBP Trading Outlook (26-10-2010)
The Sterling (GBP) managed gains against the USD in Asia but underperformed the broader market with EUR/GBP extending recent gains to 0.8940. The situation changed in the US session however with EUR/GBP selling providing support for the GBP/USD. Overall the GBP/USD traded with a low of 1.5675 and a high of 1.5775 before closing the day at 1.5715 in the New York session. Looking ahead, Q3 GDP is forecast at 0.4% vs. 1.2% previously Q/Q
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