Boris Johnson wong another round of Conservative leadership ballot today, getting 143 votes. Main rival Jeremy Hunt followed as second and won 54 votes. Michael Gove got 51 while Sajid Javid got 38. Rory Stewart got only 27 and was eliminated.

GBP/USD is in a strong recovery today but upside is held well below 1.2763 resistance. Thus, near term outlook remains bearish. Next move will depend on FOMC rate decision.

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