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GBP/USD lifts back above 1.30 as Dollar comes off the boil

The earlier gains in the dollar have now dissipated somewhat just now. The EUR/USD has held the noted 200 day moving average perfectly. To remind the reader; that is in place again today at 1.0874 and the low seen earlier this morning was set at 1.0875. The Euro is now edging its way back towards the 1.0900 handle. At the same time the GBP/USD has managed to recover some of the ground it lost earlier, after the weaker than expected UK inflation data. The GBP/USD fell to a low at 1.2983. It has just now edged back to around 1.3015, but it remains to be seen, if this rebound can extend much further, given what sent the Pound lower in the first place. The GBP/USD is currently trading at 1.3013 
 

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