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GBP/USD eyes $1.2782
We enter the second day of key UK data, with unemployment readings likely to provide key volatility. The price failed to hold above $1.27 yesterday, despite a rally heading into the CPI numbers.
A break higher for the pair requires a move through $1.2708 and then $1.2782. Only a close below last week’s low at $1.2559 would suggest we have seen the sterling rally come to an end.