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GBP/USD extends gains above 1.2500

Earlier this morning an update here noted; that the GBP/USD was testing the 1.2500 handle. Well, since then it has advanced further above that level and close to 1.2525 a short while ago. In that previous update, it was noted that the Pound had peaked back on April 12, at 1.2559. What was not mentioned in that update, was the fact that coincidentally (or not) that price point is also where the 200 day moving average now resides today. That makes 1.2559 a price point of even more importance, should the current rise come closer to it. There is now guarantee that it will, but make no mistake this is now the next big test for the Pound today. The GBP/USD is currently trading at 1.2521

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