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GBP/USD pressing higher in early European trading
On Friday the GBP/USD pushed above 1.2775. A drop back towards 1.2725 followed into the final 4pm London fix of the week, but it then rebounded again into the US close. The Pound ended the week in the US at 1.2761. It is right now pushing towards the highs seen on Friday, following an earlier dip to 1.2747. The next level of resistance is not far off again now, as it was on Friday and that is the 50 day moving average. This is in place right now at 1.2786. The further push higher in the pound this morning comes as the EUR/GBP continues to edge lower, just now hitting a session low at 0.8548. The GBP/USD is currently trading at 1.2773
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