• GBP (-0.2%) rebound peters out at crucial hurdles. Range = 1.2721-1.2811

• First test of 200-week/day MA at 1.2814-22 keeps a lid on GBP

• U.S. payrolls supports a Fed Dec cut (85%)

• Minimal room for further dovish repricing is a headwind for GBP/USD

• Eyes on U.S. CPI as Fed officials open door to Jan skip

• Fed's Hammack "Fed at or near time to slow pace of rate cuts"

• Support sits at 1.27, 1.2665 (Aug low) and 1.25

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