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GBP/USD in mid-range edging towards 1.27
The push higher in the EUR/USD noted here a little earlier has helped the GBP/USD to rebound too. The Pound has lifted close to the 1.27 handle this morning. That kind of sticks it back into the midst of its recent range. The high seen last week was set at 1.2750 and the low seen yesterday was set at 1.2617 (1.2683 is the middle). Clearly in terms of immediate price action anything either side of 1.2617 or 1.2750 might extend, but at the same time, it can basically do whatever it likes inside that and not make any kind of conclusive move. To be honest the life of the GBP/USD does not seem to be its own right now and it is more the Euro and Yen crosses that have the ball at the moment. The GBP/USD is currently trading at 1.2686
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