GBP Trading Outlook (04-01-2012)

The Sterling (GBP) moved higher in line with most other pairs and remained well supported against the Euro testing 0.8330 supports. GBP/USD is near 1.5700 and a break above would open up a move to 1.6000. UK PMI manufacturing jumped 49.6 vs. 47.6 and help support the move higher. Looking ahead, November Mortgage approvals at 52.3k vs. 52.7k previously.

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