GBP Trading Outlook (21-12-2011)

The Sterling (GBP) outperformed in a very positive trading session breaking to test 1.5700 before consolidating at 1.5660. EUR/GBP fell even further and was an example of how strong the Pound move was given the positive Euro news. December CBI Distributive Trades surged to 9 vs. -19 previously a seven month high. Looking ahead, MPC minutes from December meeting forecast at 0-9-0.

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