The Sterling (GBP) moved higher above 1.6300 where in consolidated in quiet trade. EUR/GBP fell from profit taking at 0.8740 to 0.8710. The market outlook is turning bullish on cable as risk appetite picks up and     a short term bottom is put into place. Overall the GBP/USD traded with a low of 1.6202 and a high of 1.6331 before closing the day at 1.6310 in the New York session.
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