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The Pound sterling is also lifted by a weaker greenback. Price action rose to nearly a 5-month high on Monday.

On an intraday basis, GBPUSD pushed toward 1.2902 before pulling back slightly.

Given the current momentum, GBPUSD could be looking toward the 1.3000 handle in the near term. Above this level, price will challenge the resistance level at 1.3122.

A move to this level will, however, see GBPUSD erasing the Covid-19 led declines since March this year.

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