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GBP/USD eyes $1.2865
Weakness in cable yesterday was swiftly reversed, with the price back above $1.25 and now looking set to challenge the highs of late January around $1.2650.
From here the next target would be $1.2865 and then $1.3125. Yesterday’s bounce confirms the price action from 24 January, namely that $1.24 is a key support area and that a bigger downward move will need a drop through this level.