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GBP Trading Outlook (27-08-2012)

The Sterling (GBP) pulled back further but in a quiet fashion to close just above the 1.5800. Q2 GDP was at -0.5% as expected and created little movement. A positive week of trade for the Pound and bulls will still be looking to buy on the dips and potentially target 1.6000 if the Friday Jackson Hole Bernanke Speech delivers. Looking ahead, German IFO August Expectations forecast at 95 vs. 95.6 previously. Business Climate is forecast at 102.7 vs. 103.3 previously.

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