The Sterling lost a bit of ground to the USD on Monday, but this came after several strong sessions and its trading can be interpreted as a range. Today the U.K. will release Prelim Mortgage Approval and Public Sector Net Borrowing numbers, CBI Industrial Order Expectations will also be published. A slight gain is expected in Mortgage Approvals but the CBI Industrial reading is expected to be worse than the previous result. In other words the data from the U.K. is anticipated to remain a mixed bag. Investors will keep in mind that this coming Friday the Prelim GDP report will be brought forth. The GBP could find itself in for a test of its range these next couple of days, this as traders try to position themselves before the Gross Domestic Product statistics. The Sterling remains an interesting currency and has found rather strong backing the past few weeks. Risk sentiment winds today will remain a vital detail for GBP traders.
Written by bforex.com
