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GBPUSD further extends the downtrend to....>

STERLING
STERLING: GBPUSD further extends the downtrend to multi-month lows of $1.2624.
This brings the Jan 4 low into view at $1.2616, further support is located
behind and through to $1.2600.
- EURGBP looks set to register its 13th straight session of gains. A close above
the 200-dma (last time mid-Jan) would cement the uptrend with next resistance at
Gbp0.8865 from the 61.8% fibo of the Jan-Mar fall.
- GBPJPY clears Y139.50 to print its lowest levels since mid-Jan. The Jan 16 low
provides next support at Y138.99, a break opens the 61.8% fibo of the Jan-Mar
rise at Y138.26.

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