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GBPUSD: Keep an Eye on 1.2710
GBPUSD is up today on a slightly cooler US Consumer Price Index (CPI) reading, but is it sustainable? Today, I’ll share the GBPUSD area to watch this week, which lines up with a critical level on the US Dollar Index (DXY). GBPUSD is up today following a slightly cooler print from US CPI. However, it’s not as big of a miss as some were expecting, and US inflation remains well above seasonally adjusted averages. As for the pound, bulls managed an initial 60-pip surge following today’s CPI prints, but the pair has retreated some since. Like the EURUSD that I discussed on Tuesday, I’m not overly interested in ... (full story)