GBP Trading Outlook (29-07-2011)

The Sterling (GBP) outperformed most other risk currencies finding support under 1.6300 and EUR/GBP falling to 0.8750. CBI Realized Sales at -5 vs. 0 forecast UK economy struggling to gain traction. Overall the GBP/USD traded with a low of 1.6292 and a high of 1.6385 before closing the day at 1.6330 in the New York session. Looking ahead, June Nationwide House Prices forecast at 0.2% vs. 0.0% previously.

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