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GBP/USD edges back above 1.2700

On December 14 the GBP/USD tried twice to vault the 1.28 handle for the first time since August 22. In the event the attempts proved unsuccessful and the pound fell back to a low at 1.2612 last Thursday. It failed to close above 1.27 on Friday, when ending the week at 1.2690. However, the price action has been pretty pivotal so far today, either side of 1.27. The range seen so far has been covered by 1.2685 to 1.2713. It is not far off the top end of that just now as it edges back above 1.27, since being camped below that level for most of the morning. The first resistance is now at 1.2725, then at 1.2745. Support remains in place at 1.2650 (current 21 day moving average). The GBP/USD is just now trading at 1.2704 

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