The Sterling (GBP) the GBP/USD muddled through an uninspiring day of trade falling back from highs in Asia at 1.5680 to support at 1.5610 in the US session. The Major is still bullish technically with higher lows daily but a failure to break 1.5700 soon will weigh on sentiment. June UK Trade Balance widened to -10bn vs. -8bn previously. Looking ahead, July German CPI forecast at 0.4% vs. 0.4% previously m/m.
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