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GBP underperforms and sits bottom of G10...>

STERLING
STERLING: GBP underperforms and sits bottom of G10 at the NY crossover. Despite
the lack of Brexit headlines a number of ministerial resignations have pressured
the pound through Europe. 
- GBPUSD moved through the 100-hma to $1.2462 and remains locked in a
longer-term downtrend. A downside break of the Jul 18 low at $1.2432 opens a
return to the multi-year Jul 17 low at $1.2382.
- EURGBP currently challenges the Gbp0.90 level, a positive close above opens
last Wednesday's multi-month high at Gbp0.9051.
- GBPJPY touched pullback lows of Y134.41, while GBPCHF extended to multi-year
lows of Chf1.2231. Support is expected on approach to the psychological Chf1.22
level.

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