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GBP Trading Outlook (24-06-2011)

The Sterling (GBP) broke through 1.6000 and the market was extremely negative before support was found and the Euro lifted Cable back above the key level. The outlook has turned negative for the Pound with the Bank of England now seen falling further behind the tightening cycle compared to most other major countries. Overall the GBP/USD traded with a low of 1.5936 and a high of 1.6069 before closing the day at 1.6020 in the New York session. Looking ahead, BOE Posen Speaks.

Back to GBP Trading Outlook Archive

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