GBP Trading Outlook (03-10-2012)

The Sterling (GBP) was weaker than the Euro and fell to back to day lows unwinding any rally during the day. Investors have changed their mood on the GBP/USD last week and we seem to be in the process of consolidation and pullback. Looking ahead, EU September PMI Services forecast at 46 vs. 46. UK September PMI Services forecast at 53 vs. 53.7 previously.

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