The GBP/USD steadied near 11-month lows after a decline this week that was fueled by investor fears Britain will leave the European Union without an agreement on its future relationship with the bloc. There are near-term risks of a recovery due the the oversold market, but gains will likely be limited by Wednesday's 1.2960 high. We stay GBP/USD bearish.

This is how we trade now:

EUR/USD

Trading strategy: Sell

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