To indicate more stable increases, it is necessary for GBPUSD to surpass the 1.2550 level, according to Scotiabank.

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GBPUSD Chart by TradingView

GBP/USD is holding a narrow consolidation range between support at 1.2370 and resistance at 1.2410. Economists at Scotiabank analyze Cable’s outlook.

See: The downtrend in Sterling is likely to continue – Commerzbank

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