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June, 09 - GBP/USD

The Cable could attempt a test of the 1.2800 area

gbpusd0906picGBP dropped to 1.2626 first before rebounding to a high of 1.2736. GBP opened on a firm note this morning and upward pressure is building up. From here, GBP could move above 1.2760 even though the major 1.2800 level is likely out of reach. Support is at 1.2700 followed by 1.2660.

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