GBP Trading Outlook (11-08-2011)
The Sterling (GBP) a 4th day of riots is weighing on the GBP which fell quit heavily in Europe and then in the US session on risk aversion and weak data. BOE Governor King downgraded the central banks economic outlook but did remain confident inflation will drop. Support was found at 1.6100 and EUR/GBP reversed from a spike higher in Europe to finish under 0.8800.
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