MUFG trade of the coming week: Sell GBP/USD

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Weekly top pick from Mitsubishi UFG

MUFG recommends selling GBP/USD (spot at 1.2927) with a target of 1.2630 and a stop at 1.3180.

“We are recommending a short tactical GBP/USD trade idea to reflect higher Brexit risks in the week ahead after the EU leaders summit failed to make progress on a trade deal,” MUFG notes.

“The outlook for the UK economy is darkening heading into year end which could encourage the BoE to deliver more stimulus next month,” they add.

For bank trade ideas, check out eFX Plus

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