GBP Trading Outlook (20-09-2012)

The Sterling (GBP) the MPC minutes released overnight showed more QE was on the cards from the UK central bank if needed. The GBP/USD fell but found support under 1.6200 and this highlighted the strength the Pound is receiving lately. A bigger pullback would still help the GBP/USD continue higher if buyers were given a better level to re-enter. Looking ahead, September European Flash Manufacturing PMI forecast at 45.5 vs. 45.1 previously. Flash Services PMI was forecast at 47.5 vs. 47.2 previously.

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