The British pound rebounded against the dollar, climbing close to the 1.58 level, but gave up those gains by week’s end. The upcoming week is very quiet, with only two releases, both of which are housing sector indicators. Here is an outlook for the upcoming events, and an updated technical analysis for GBP/USD.
The British government deficit hit 15.2 billion in November, which although sharply higher than the October reading, was a bit better than the market forecast, and postive news for the pound.At the same time, property prices are down significantly, and most economic indicators are pointing to a recession in 2012.
Read the rest of the article [B][I][URL="http://www.forexcrunch.com/gbpusd-outlook-december-26-30/"]GBP/USD Outlook December 26-30[/URL][/I][/B]
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