The Sterling (GBP) broke lower going into in the start of the European session with GBP/USD hitting new trend lows at 1.5125 before rebounding sharply to 1.5260 as EUR/GBP selling. The outlook is very weak for the GBP/USD and selling rallies remains the preferred way to gain from the strong downtrend. Looking ahead, February German IFO Business Climate forecast at 105 vs. 104.2 previously.
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