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GBP/USD slips back for another look at 1.2700

Since falling to a low at 1.2701 earlier today, the GBP/USD then rebounded and recovered some of that downside, when it lifted to 1.2750. However, since then it has been tailing off again and a short while ago it traded to 1.2701 again. It has held that 1.2700 handle it seems at the second time of asking. but the hold looks rather tenuous at this stage. The pound is struggling because the dollar is still holding the cards this afternoon. Ideally the pound could do with some further year-end dollar outflow in order to prevent a fall below 1.2700 from potentially extending towards its 21 day moving average. That is in place right now at 1.2661. The GBP/USD is currently trading at 1.2713
 

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