GBP Trading Outlook
The Sterling (GBP) Cable managed only a smaller rally back above 1.6100 but lagging the EUR/USD. EUR/GBP moved higher to 0.8000 and is an important cross to watch to gauge relative strength of the two majors. Looking ahead, German CPI forecast at -0.1% m/m. October EU Industrial Production forecast at 0.2% vs. -2.5% previously.
The Sterling (GBP) was stronger grinding higher to 1.6100 before running out of steam and settling back to 1.6070. The support above 1.6000 last week and yesterday has the topside in focus and we could retest the 1.6130 highs from last week and open up the 2012 highs near 1.6300. Looking ahead, December German ZEW forecast at 012 vs. -15 previously.
Go to The Sterling (GBP) Archive