The Sterling (GBP) reversed back below 1.6000 as the lofty figure proved too much for the Pound given so many risk events on the horizon. The trend is still higher however so support is expected to be found shortly at either 1.5960 or 1.5920. GBP/JPY is struggling since Friday’s NFP and is hurting the outlook for the major. Looking ahead, July UK Trade Balance forecast at -8.9bn vs. -10.1bn previously.
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