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GBP Trading Outlook (23-10-2012)

The Sterling (GBP) was weaker than most with the bounce to 1.6050 fading and we closed at 1.6000 once again. The bears are looking for a break and are getting help from the EUR/GBP which is pressuring the topside. GBP/JPY is supporting the Pound however with the popular Yen cross in a clear uptrend as the Yen is sold off across the board. Looking ahead, Bank of Canada Meetings forecast at to hold at 1.0%. Also BOE Governor King Speaks.

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