GBP Trading Outlook
The Sterling (GBP) the GBP/USD came under pressure from the crosses overnight and fell to 1.5550 with talk in the market the BOE may expand the Asset purchase program next week at the central bank meeting. A small rally so far has seen Cable test 1.5600 in Asian trade Thursday. Looking ahead, Q1 GDP forecast at -0.3% vs. -0.3% previously.
The Sterling (GBP) the rebound in stocks let the GBP/USD recover to 1.5650 and was one of the better performers on the day. The EUR/GBP was a big mover breaking the 0.8000 level and could be poised for a fresh down move as the Eurozone crisis rolls on. Also ahead, June CBI Distributive Trades forecast at 10 vs. 21 previously.
The Sterling (GBP) the GBP/USD was more stable than most majors with a tight 50 pip range 1.5540-90 containing Monday’s price action. The EUR/GBP once again was on the downside grinding towards the 0.8000 level and helping to support the major from larger losses. Looking ahead, July German Consumer sentiment forecast at 5.6 vs. 5.7. Also ahead, UK May Public sector net borrowing forecast at 14.25bn vs. -18.81bn previously.
Go to The Sterling (GBP) Archive