The Sterling (GBP) the GBP/USD fell back but found support in the lower 1.5800 region before reversing back with the support seen on the EUR/USD. The outlook is mixed but if EUR/GBP can break 0.8200 and move to the historical support at 0.8000 then the GBP/USD should be spared any large moves from European debt shocks. Update German March WPI at 0.9% vs. 1.0% previously.
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