We featured medium term bearish sterling signals in the form of UK 10yr breakeven rates and GBP/USD volume in our Top 10 Charts for Q2 report. Below we have highlighted more recent signals such as the Bearish Reversal Day yesterday that also warn of more immediate downside for cable. The sterling crosses are also catching our attention given the break to lows not seen since 1977 in GBP/NZD and multi year range lows coming under pressure for GBP/CAD. A break below 1.5245 would likely provide additional fuel for sterling weakness.
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Barclays