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GBP Trading Outlook (30-03-2011)

The Sterling (GBP) continued to underperform and was punished against the Euro which hit year highs above 0.8830 on EUR/GBP before paring back some gains. Cable continued to pivot 1.6000 with range traders enjoying some stability since Monday. Overall the GBP/USD traded with a low of 1.5934 and a high of 1.6046 before closing the day at 1.6010 in the New York session. Looking ahead, March CBI Distributive Trades forecast at 0 vs. 6 previously.

Back to GBP Trading Outlook Archive

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