GBP Trading Outlook (02-02-2012)

The Sterling (GBP) the GBP/USD broke easily above 1.5800 as the remarkable rally continued. The market has been up daily for nearly two weeks and has decoupled with the Euro. EUR/GBP is close to testing the lows near 0.8250 and a break would suggest the 0.8000 in coming weeks. Looking ahead, Construction PMI forecast at 52.6 vs. 53.2 previously.

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