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July, 10 - GBP/USD consolidates the downside amid risk-aversion

GBPUSD1007Following a steady decline in the overnight trade, GBP/USD looks to extend the downside consolidative mode below 1.2600 in early Europe and remains vulnerable amid broad risk-aversion.

The persistent surge in coronavirus cases in the US, concerns over the global economic rebound and Brexit uncertainty exert bearish pressure on the spot.

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