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GBP Trading Outlook (28-07-2011)

The Sterling (GBP) fell back to the lower 1.6300 region with market wide USD strength and heavy GBP/JPY selling pushing Cable lower. EUR/GBP fell below 0.8800 but is still inside the recent range. July CBI Industrial trends showed a sharp slowdown to -10 vs. -2 previously. Overall the GBP/USD traded with a low of 1.6310 and a high of 1.6441 before closing the day at 1.6350 in the New York session. Looking ahead, CBI Realized sales forecast at 0 vs. -2 previously.

Back to GBP Trading Outlook Archive

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