GBP Trading Outlook (13-08-2012)

The Sterling (GBP) what started as a weak day for the GBP/USD with the uptrend under pressure after 1.5600 was broken in the European session turned into a bullish day by the US close. The sharp reversal from 1.5580 lows saw 1.5700 tested for the first time in the week. EUR/GBP fell for most of the day down below 0.7850 and providing another avenue of support for the Pound. Looking ahead, No Major Data today.

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