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GBP Trading Outlook (05-07-2011)

The Sterling (GBP) broke with the rest of the market for a rare test higher above 1.6100 whilst other majors did very little. This saw the EUR/GBP come under selling pressure for the first time in recent sessions testing 0.9000 during the European session. Overall the GBP/USD traded with a low of 1.6052 and a high of 1.6142 before closing the day at 1.6090 in the New York session. Looking ahead, June PMI Services forecasts at 53.5 vs. 53.8.

Back to GBP Trading Outlook Archive

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