GBP Trading Outlook (06-12-2010)

The Sterling (GBP) rallied back towards 1.5800 reacting to USD weakness and beginning to be bought on dips in recent sessions. EUR/GBP was subdued near 0.8500 in choppy trade lacking a clear direction at current levels. November PMI Services was at 53 vs. 53.2 previously. Overall the GBP/USD traded with a low of 1.5582 and a high of 1.5786 before closing the day at 1.5784 in the New York session.

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