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GBP Trading Outlook (15-12-2011)

The Sterling (GBP) the GBP/USD finished unchanged in light trade with EUR/GBP selling supporting. Cable found support at 1.5400 and the market is sitting just under 1.5500. The outlook is still negative with recent economic data disappointing. November Claimant Count came in lower than expected at 3k vs. 16k forecast. The Unemployment Rate stayed at 8.3%. Looking ahead, November Retails Sales forecast at -0.3% vs. 0.6% previously m/m.

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