GBP Trading Outlook (04-10-2011)

The Sterling (GBP) was heavy as USD strength spread throughout the markets. The losses were contained however with a move below 1.5500 found support 1.5450. EUR/GBP continues to plummet falling to 0.8550 and is providing a minor support. GBP/JPY found support at Y118. Septembers Manufacturing PMI supported at 51.1 vs. 49.4 previously in a surprising reading back above expansionary territory.

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