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  • The GBP/USD pairing is catching some bids in the pre-London session, rising over 1.2750 in early Wednesday trading, but the pair remains steeply off of recent highs, losing the 1.2800 major handle in Tuesday’s trading as the Cable market remains fairly risk-off.
  • An intraday floor has been priced in near 1.2725 as the Cable lifts above the 200-period moving average near 1,2740.

GBP/USD, 5-Minute

  • Going back over the past two weeks, 1.2860 remains a key inflection point, and near-term bulls will be waiting for a successful break-and-retest of the congestion region before stepping up their long orders.

GBP/USD, 30-Minute

  • In the medium-term, the Cable is confined neatly in a descending triangle, while a fresh break into the 1.2700 level will see further downside open up as bearish bets break free of a heavy stop zone.

GBP/USD, 4-Hour

GBP/USD

Overview:
       Today Last Price:  1.2755
       Today Daily change:  21  pips
       Today Daily change %:  0.165%
       Today Daily Open:  1.2734
Trends:
       Previous Daily SMA20:  1.2906
       Previous Daily SMA50:  1.2992
       Previous Daily SMA100:  1.299
       Previous Daily SMA200:  1.3335
Levels:
       Previous Daily High:  1.2836
       Previous Daily Low:  1.2725
       Previous Weekly High:  1.2928
       Previous Weekly Low:  1.2764
       Previous Monthly High:  1.326
       Previous Monthly Low:  1.2696
       Previous Daily Fibonacci 38.2%:  1.2767
       Previous Daily Fibonacci 61.8%:  1.2793
       Previous Daily Pivot Point S1:  1.2694
       Previous Daily Pivot Point S2:  1.2654
       Previous Daily Pivot Point S3:  1.2584
       Previous Daily Pivot Point R1:  1.2805
       Previous Daily Pivot Point R2:  1.2875
       Previous Daily Pivot Point R3:  1.2915