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GBP/USD - sideways action to continue

FX:GBPUSD   英镑/美元
Pair's repeated failure to stay below 1.2775 (Dec 6 high) despite the retreat from 1.2903 (last week's high) coupled with overstretched 5-DMA and 10-DMA suggests the sideways action is likely to continue.
The pair is waiting for the short-term averages to catch up with the price action before extending the rally.
Only a daily close below 1.2775 would prolong the consolidation and increase the odds of a correction.

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