• GBP/USD hit a 6-session high of 1.2606 just ahead of NY's open

• Sellers emerged however and GBP/USD turned lower on the session

• US$, Japan's yen rallied on soured risk; GBP/JPY fell toward 196.25

• US yield , equity , gold drops reinforced risk-off

• USD/CNH rally toward 7.3200 reinforced the U$ buying theme

• GBP/USD fell below the 10-DMA, hit 1.2506 before bouncing slightly

• Thawing of risk-off helped GBP/USD near 1.2550 late, was down -0.20%

• Consolidation, hold below 10-DMA, falling daily RSI are bearish signs
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(Christopher Romano is a Reuters market analyst. The views expressed are his own)