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GBP/USD set for losses
Having opened below $1.52 this morning, it looks like we are set for more losses in this pair, assuming UK CPI this morning does not have a surprise up its sleeve. The failure to hold gains around $1.52 means that we now look to support around $1.5155, and then $1.5130, with a move through here potentially taking the pair as far as $1.5050. It would require a fairly strong inflation number to put the bulls back in control here, with a target around $1.5225 in the first instance and then on to $1.5270.