GBP Trading Outlook (06-11-2012)
The Sterling (GBP) GBP/USD was pushed back below 1.6000 after UK Services PMI fell to 50.6 vs. 52 previously. EUR/GBP pivoted the 0.8000 level with the GBP and Euro losses roughly at the same pace. There is some focus on who will replace the BOE Governor King and whether they will affect the monetary policy and Asset purchase program. Looking ahead, UK September Industrial Output forecast at -0.6% vs. -0.5%. EU October PMI Services forecast at 46.2.
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