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GBP Trading Outlook (28-10-2010)

The Sterling (GBP) fell against the Dollar but held up better than most as the residual effects of a strong GDP print echoed throughout the UK media today. Talk that the economy was not going into a double dip help limit expectations of the BOE expanding its asset purchase program next month. Overall the GBP/USD traded with a low of 1.5728 and a high of 1.5869 before closing the day at 1.5785 in the New York session. Looking ahead, October CBI Distributive Trades is forecast at 35 vs. 49 previously.

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