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GBP Trading Outlook (06-01-2011)

The Sterling (GBP) with Construction PMI slipping to 49.1 vs. 51.8 previously and with a strong USD the major was under heavy pressure in the US session falling under 1.5500. EUR/GBP continue to move lower however and GBP/JPY extended its recovery off 12 month lows. Overall the GBP/USD traded with a low of 1.5449 and a high of 1.5631 before closing the day at 1.5499 in the New York session. Looking ahead, December PMI Services forecast at 53.

Back to GBP Trading Outlook Archive

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