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Sterling Remains Choppy Ahead of Second Quarter GDP Later This Week

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Sterling remains choppy ahead of key economic releases this week. Second quarter GDPdata (Wednesday) may have contracted over 20% and unemployment numbers (Tuesday ) for June likely to push sterling lower. However second quarter deep contraction is already discounted in the market but any dollar rally theme will weigh in the sterling prices this week

TREND : WEAK BEARISH

Time                                      :           10/08/2020

Pivot                                      :           1.3063

Technical View                     :             SHORT BELOW 1.3043

Target                                   :            1.3035, 1.3022, 1.3009

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