• Cable consolidates around 1.32, nears post-Powell high (1.3230)

• On Friday, BoE's Bailey acknowledged reduced inflation persistence

• But flagged less economic cost of tighter policy than previously

• Currently, markets price a 28% chance of a BoE Sept cut 0#BOEWATCH

• Cross-related sales in EUR/GBP also underpinning cable. Support: 0.84

• Near-term support for GBP/USD = 1.3180 (55HMA), 1.3126 (pre-Powell level)

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