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GBPUSD: Daily & Intraday setup update

The pound jumped on Wednesday after data showed UK inflation neared the Bank of England’s target in April, but did not slow as much as expected, leaving the chances of a June rate cut unchanged at around 50%.

British consumer prices rose by 2.3% in annual terms in April, slowing from a 3.2% increase in March, the Office for National Statistics said.

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