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| GBPUSD broke below 1.6 - November 11, 2013 |
Sterling dipped against the euro on Monday, pulling away from a 10-month high, as investors kept to the sidelines before this week's Bank of England quarterly inflation report and jobs data.
Consequently this bodes well for sterling, and while gains against the dollar are likely to be limited, euro/sterling is set for a further downward correction, with a break (though) 83.00 on the cards shortly.
But the pound could get a boost on Wednesday if the BoE raises its growth and unemployment forecasts and brings forward the market expectations for when interest rates will rise. Strong UK jobs data on Wednesday would also lift the pound. -Reuters
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