GBP Trading Outlook (02-05-2011)

The Sterling (GBP) consolidated into the weekend above the 1.6600 level but struggled to push far above &nbsp 1.6700. EUR/GBP hit month highs above 0.8930 on continued Euro rally but pared back those gains into the weekend. Overall the GBP/USD traded with a low of 1.6622 and a high of 1.6721 before closing the day at 1.6712 in the New York session. Looking ahead, BOE Governor King Speaks

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