GBP Trading Outlook
The Sterling (GBP) the GBP/USD was contained but very strong just under 1.6200. April CBI Distributive Trades were weaker than expected at -6 vs. -4 previously. The EUR/GBP fell to 0.8150 support after the Spanish downgrade but has not broken through the support. Also ahead, March German Import Prices forecast 0.9% vs. 1.0%.
The Sterling (GBP) fresh GBP/USD buying saw 1.6180 tested a few more times with the level yet to break but most seeing more gains as the uptrend continues. The EUR/GBP is struggling to make fresh lows as the EUR/USD plays catch up but we shall see in coming days whether 0.8200 can be reclaimed or 0.8150 will be retested. Also ahead, April CBI Distributive Trades forecast at -4 vs. 0 previously.
The Sterling (GBP) the GBP/USD continued to be the strongest risk currency in the market hardly pulling back at all and saw the pair close above 1.6100 and at new highs against the Euro. The market is looking to press higher with GBP/JPY buying quite strong and holding above Y130. Also ahead, March Public Sector Debt forecast at 14.4bn vs. 12.91bn previously
The Sterling (GBP) the GBP/USD rally extended on Friday kicking above 1.6100 and opens up 1.6500 this week with many seeing the downside over and all the GBP crosses moving technically higher. GBP/AUD moved above 1.5500. The EUR/GBP remained offered and closed under 0.8200 and is targeting the 0.8000 level going forward. Looking ahead, April German Manufacturing PMI forecast at 49 vs. 48.4 previously. Also ahead, Eurozone Manufacturing PMI forecast at 48 vs. 47.7 previously.
Go to The Sterling (GBP) Archive