GBP Trading Outlook (08-02-2011)

The Sterling (GBP) traded inside Friday&rsquo s range as the market waited for fresh direction. GBP/JPY remains a source of support as does EUR/GBP which slipped below 0.8400. Overall the GBP/USD traded with a low of 1.6087 and a high of 1.6188 before closing the day at 1.6130 in the New York session.

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