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GBP/USD outperforms in European trading as EUR/GBP edges lower

The GBP/USD was unable to escape the rising dollar on Friday and that sent the Pound down to a low at 1.2427-its lowest level since November 2023. The GBP/USD later closed in the US at 1.2452. However, it has been edging higher today and some of that traction seems to come from a further fall in the EUR/GBP. It has also garnered support from a rebound in the GBP/JPY over the past 24 hours trading too. So, the GBP/USD has rebounded to a high this morning at 1.2492. The low seen much earlier today was set at 1.2441. Beyond the dollar dynamic, there is some quite important data out for the Pound early tomorrow morning. That is the latest UK monthly jobs report, at 6am GMT. This data will surely have an impact, especially if any surprises (in either direction) are revealed. Meanwhile, the GBP/USD is currently trading at 1.2490

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