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GBP/USD fails to set a daily close above 1.2800

The noted rise in the GBP/USD yesterday saw the Pound accelerate once it busted above the previous interim high, at 1.2817. The extension though that level delivered a move to 1.2860 ahead of the 4pm London fix. That was the best level for the Pound since it peaked at 1.2894 back on March 8. However, by the time of the US close, the GBP/USD had fallen back and actually failed to set a daily close above the 1.2800 handle. The Pound closed last night at 1.2798. It has fallen back further a moment ago, as the EUR/GBP helps to push the Pound lower versus the dollar. The EUR/GBP has lifted above 0.8450 this morning. The GBP/USD has just now set a session low at 1.2773. The rebound in US yields is also a driver for that fall. The GBP/USD is currently trading at 1.2776 

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