GBP/USD: Sterling plunged to a 2-week low as investors increased their bets on Bank of England easing after BoE’s Carney stated that a global trade war and a no-deal Brexit were growing risks to Britain’s economy which might require more help to cope with a downturn. The major traded 0.05 percent down at 1.2586, having hit a low of 1.2584 earlier, it’s lowest since June 19. Investors’ attention will remain on the UK Markit service PMI, ahead of the U.S. fundamental drivers. Immediate resistance is located at 1.2655 (5-DMA), a break above could take it near 1.2743 (June 5 High). On the downside, support is seen at 1.2558 (May 31 Low), a break below targets 1.2506 (June 18 Low). Against the euro, the pound was trading 0.1 percent down at 89.69 pence, having hit a high of 89.19 on Tuesday, it’s highest since Jun. 25.
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