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GBP/USD struggles to make gains
Having seen the mid-August rally come to an end, cable has now found itself stuck in a holding pattern in the range $1.3060 - $1.3120.
We are seeing the moving averages roll over on the hourly chart, so the approach seems to be shifting back to ‘sell the rallies’, with any continued price action below $1.3150 indicating that the sellers are in charge. Below $1.3050, the pair will target the mid-August lows at $1.2850.