The Sterling (GBP) rallied in Europe on the back of upgrades to Q3 GDP to 0.6% vs. 0.5% previously. Resistance was found at 1.5770 and reversed back to opening levels near 1.5680. The outlook is mixed but improving as risk aversion dies down. We are still quite low on GBP/USD historically as the Pound has underperformed in the last few years due to a weak UK economy and QE from the bank of England.
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