GBP Trading Outlook (02-09-2011)

The Sterling (GBP) fell sharply in the US session down under 1.6200 and finding support in the lower 1.6100 area before grinding higher into the close. EUR/GBP fell back towards 0.8800 on Euro weakness and could support the GBP/USD if the selling continues. &nbsp Looking ahead, August Services PMI forecast at 52.6 vs. 53.6 previously.

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