GBP Trading Outlook (10-05-2011)

The Sterling (GBP) April UK Halifax HPI fell 1.4% m/m and kept the recovery limited. When Greece was downgraded the Pound fell in sympathy but was able to rebound to opening levels as well later in the US session. Overall the GBP/USD traded with a low of 1.6270 and a high of 1.6406 before closing the day at 1.6395 in the New York session.

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