GBPUSD pulls back after modest gains

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The British pound is seen making a moderate pullback after prices continued to rise since Friday.

GBPUSD remains range-bound within the levels of 1.2485 and 1.2277.

In the near term, while there is a possibility that prices will pullback, there could be a higher low forming.

This puts the upside bias back into the picture.

But, GBPUSD will need to clear the upper end of the range at 1.2485 to continue further to the upside.

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