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GBP Trading Outlook (23-04-2012)

The Sterling (GBP) the GBP/USD rally extended on Friday kicking above 1.6100 and opens up 1.6500 this week with many seeing the downside over and all the GBP crosses moving technically higher. GBP/AUD moved above 1.5500. The EUR/GBP remained offered and closed under 0.8200 and is targeting the 0.8000 level going forward. Looking ahead, April German Manufacturing PMI forecast at 49 vs. 48.4 previously. Also ahead, Eurozone Manufacturing PMI forecast at 48 vs. 47.7 previously.

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