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GBP/USD falls to print below 1.2700
As with the EUR/USD, the GBP/USD pushed higher right after the release of the US CPI data. That saw the Pound reach a session high close to 1.2770. Well, since then and as with the EUR/USD, it has fallen on its face and just now the GBP/USD hit a session low close to 1.2700. The failure to hold the interim gain is just another symptom of its malaise. The prospect of a fall below 1.27 right now looks even more live than it did earlier on. The reader is reminded of the next support level below 1.2700 and that is at 1.2665- the August 8 low point. The GBP/USD has in fact now printed a trade below the 1.2700, at 1.2699 a moment ago. It is currently trading at 1.2705
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