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GBP/USD Maintains Post-US CPI Underperformance as Wages Weigh

GBP
  • Greenback returning higher as the post-data volatility settles, with GBP/USD again narrowing the gap with earlier lows of 1.2756 as the soft wages data this morning keeps GBP among the poorest performers in G10.
  • Weakness through here opens the pair to support at 1.2747 - the 50% retracement for the latest upleg in the pair. A move through here would argue in favour of recent GBP strength being corrective in nature, opening 1.2682 and the 50-dma.

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