GBP Trading Outlook (22-08-2012)

The Sterling (GBP) the GBP/USD broke with the EUR/USD surging to 1.5800 before finding resistance and easing back with US stocks. The outlook is mixed with the Pound strong technically but if US stocks move lower then the Pound will likely follow. The EUR/GBP cross moved back to 0.7900 and will be watching closely to see if the two majors are decoupling.

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