GBP/USD short-term technical outlook

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GBP/USD treads water around 1.2880/85 while heading into Wednesday’s London open. The Pound major slumped below 1.2900 the previous day, marking the biggest losses since September 21. The pair’s downside past-1.2865 may take a rest near the early September lows surrounding 1.2760 before highlighting the 200-day SMA and 61.8% of Fibonacci retracement close to 1.2720/15.
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