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GBP Trading Outlook (01-03-2013)

The Sterling (GBP) the GBP/USD was quiet but well supported by EUR/GBP selling which fell back to 0.8600 by the end of the trading day. Cable has been grinding higher and testing 1.5200 twice this week and a third attempt may see the struggling Pound get some rare topside momentum. Looking ahead, February PMI manufacturing forecast at 51 vs. 50.8 previously. Looking ahead, mortgage approvals forecast at 56.5 vs. 55.8. February EU PMI forecast at 47.8 vs. 47.8 previously.

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