GBP Trading Outlook (03-12-2012)

The Sterling (GBP) reversed from 1.6060 to tested 1.6000 during the US session on Friday with weak Canadian GDP and US income figures putting a dampener on the final session. Over the weekend we saw good Chinese data but US politicians seem no closer to a fiscal cliff compromise. Looking ahead, November EU PMI Manufacturing forecast at 46.2 vs. 46.2 previously.

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