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GBP moved away from best levels after UK...>

STERLING
STERLING: GBP moved away from best levels after UK Brexit Min Davis resigned,
following an early bid as the "soft Brexit" outcome from Friday's ministerial
summit aided, although reports pointing to a potential leadership contest &
Brexiteer Rees-Mogg noting that he will vote against the proposed Brexit deal
capped GBP before the Davis story broke.
- Davis' replacement is to be named later today.
- GBP is still a touch firmer against both USD & EUR.
- GBP/USD last trades at $1.3298, support is far away at $1.3204 (Jul 05 low),
with resistance noted $1.3334 (2-month falling resistance line)
- EUR/GBP last trades at GBP0.8845, resistance is noted at GBP0.8869 (Jul 02
high), with support at the overnight low of GBP0.8810.
- Outside of the political arena, GBP traders will look to Monday's speech from
BOE's Broadbent, Tuesday's ONS monthly GDP, activity & trade data, BOE Governor
Carney is due to speak on Wednesday, with BOE's Cunliffe due on Friday.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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