GBP/USD: The pair is mostly trading flat, having failed to build a recovery rally influenced by USD’s weakness in the broad market. While the pair tested as low as 1.2288 earlier in the day, the British Pound has managed to stabilize above the 1.2320 handle in the European session. The overall directional bias continues to retain dovish tone while traders await U.S. senate update and macro data for short term directional cues & profit opportunity. 

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