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GBP/USD rally looks like it may be at an end
The rally in cable from the 16 January lows may be at an end, with the price failing to get back above $1.26 over the past twelve hours. Bulls need to recover this level and then push on above $1.2660.
A weaker close below $1.25 today would raise the prospect that further losses lie ahead. Initial support is possible at $1.2426 and then down to $1.2250.