British pound maintains a steady handle above 1.2750

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The British pound sterling continues to remain on the front foot after price is trading comfortably above the 1.2750 handle.

However, the steep pace of gains is likely to see prices snapping back.

The breakdown of the minor trend line followed by the medium-term trend line could signal a move lower.

For now, the key support area is at 1.2643 which will be tested in the event of a breakdown lower.

A close below this level could, however, extend the correction down to 1.2424.

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