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GBP/USD Recovers After UK Fiscal Changes

The Pound Sterling (GBP) gained ground against the US Dollar (USD) following the announcement of changes to UK fiscal rules, which will fund additional investment. However, the pair remains below the 100-day Simple Moving Average (SMA), suggesting a potential downside bias.

Key Points:

UK Fiscal Changes: The announcement of changes to UK fiscal rules supported the Pound.
Technical Outlook: The GBP/USD pair is in a short-term uptrend, but faces resistance at the 100-day SMA.
Support and Resistance: Key support levels are at 1.2900 and 1.2800, while key resistance is at 1.3000 and 1.3140.

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