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GBP/USD eyes $1.24
Weakness towards $1.2550 brought out buyers last week, and the pair has moved back above $1.26 in early trading, in what is a busy week for UK economic data.
We would need to see the price move back above $1.27 to suggest that the dip has run its course, which would then open the way to the month’s high above $1.2760.
A push lower from $1.26 needs to clear $1.2550, which would then open the way to $1.24.