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GBP Trading Outlook (03-06-2011)

The Sterling (GBP) did well against the USD but the EUR/GBP went to fresh highs above 0.8855 as the market remained concerned about the UK economy and Greece fears subsided. The outlook for Cable is mixed with gains hard to maintain and sellers ready to pounce on any bad data. Overall the GBP/USD traded with a low of 1.6303 and a high of 1.6420 before closing the day at 1.6360 in the New York session. Looking ahead, May PMI Services forecast at 54.1 vs. 54.3 previously.

Back to GBP Trading Outlook Archive

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