GBP Trading Outlook (17-11-2011)

The Sterling (GBP) GBP/USD fell to month lows on weak unemployment and bearish stock markets. Q3 Employment fell -197k vs. +25k in Q2. GBP/USD broke 1.5800 and headed to towards the 1.5700 level. EUR/GBP was stable but could break 0.8500 if the Euro crisis continues. Looking ahead, October Retail Sales -0.2% vs. 0.6% m/m.

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