The GBPUSD currency pair is currently trading at 1.25849. According to UOB, there is a significant level of support at 1.2545 that is likely to hold.

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GBPUSD Chart by TradingView

While further retracements in GBP/USD appear on the cards in the near term, there is a strong support around the 1.2545 level, according to UOB Group’s Economist Lee Sue Ann and Markets Strategist Quek Ser Leang.

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