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Against our expectation for a test of 1.2195, GBP dropped quickly from 1.2172 to 1.2105 before recovering. The price action suggests GBP has moved into a consolidation phase. In other words, GBP is expected to trade sideways for today, albeit at a lower range of 1.2100/1.2165”.

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cable will in a very unpredicatable because of no-deal Brexit

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