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Slight underperformance creeps into GBP,...>

STERLING
STERLING: Slight underperformance creeps into GBP, with crosses back from
session extremes at writing, as GBP/USD & EUR/GBP still hold to ~35 pip ranges,
perhaps in delayed reaction to the Times story which noted that "Brussels will
threaten to block the City of London's access to European markets in an opening
salvo of post-Brexit trade talks in the new year. EU chiefs will also warn
Downing Street that they could put up barriers to data flows vital to British
commerce."
- Cable last -7 pips at $1.2986. Bears need to force a break of the Dec 23 low
at $1.2905, while bulls need a move above the $1.3077/80 area, which represents
the 21-DMA & Dec 20 high.
- EURGBP last +19 pips at GBP0.8557. Bulls eye the Dec 23 high at GBP0.8592.
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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