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GBPUSD making a Bearish Flag

GBPUSD was down on Thursday after testing the high level of 1.2713 in the last trading session as The British pound reversed early gains to trade below $1.27, approaching again a six-month low touched last week, amid mounting tensions between Russia and Ukraine. Reports emerged that Ukraine had fired UK cruise missiles into Russia for the first time. Early, the pound touched $1.271 after a hotter-than-expected inflation print reinforced the Bank of England's cautious stance on future interest rate cuts.