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GBP/USD eyes $1.26
The drop back yesterday may mark the beginning of a steady pullback from the 50-day simple moving average (SMA). Ideally we would need to see the price move below the $1.2450 area to create a new low, with a test of support possible at $1.2350.
A recovery would need to get back above $1.26, which might clear the way to a test of $1.2680.