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GBP/USD recovers, but can’t overcome 50-day SMA
A sharp rally yesterday saw IN_GBPUSD recover much lost ground, but the price is still stuck below the 50-day simple moving average (SMA) – $1.2553.
It has failed to push on beyond $1.25, so unless this occurs we could start to see a new drift lower. A break above $1.26 would suggest a move back to key resistance at $1.2865.