Given the fundamental backdrop, the GBP/USD is forming a ‘bullish harami’ which suggests further ipside is seen. Nevertheless, a break above the 50-day moving average (DMA) of 1.2679 is needed, to confirm the reversal pattern. That would expose 1.2700, followed by the March 21 high at 1.2803. On the other hand, if the major slips below the 200-DMA at 1.2591, that would negate the chart pattern, as the pair could extend its losses
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