FXstreet.com (Jakarta) - The Sterling (GBP) came back off the 1.5000 level in Early Asia and fell quite heavily during the European session. Concern of government debt levels and data showing weak Retail Sales the main catalysts for selling.

The pound still remains in a bullish mood however and further stabs above 1.5000 can not be ruled out, said Easy Forex Team. Overall the GBP/USD traded with a low of 1.4842 and a high of 1.5068 before closing the day at 1.4920 in the New York session.

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