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21-DMA Holding Firm GBPUSD was unable...>

CABLE TECHS
CABLE TECHS: 21-DMA Holding Firm
GBPUSD was unable to sustain its break above the 21-dma yesterday which keeps
the broader bearish trend intact for now. Downside focus remains on a break of
1.25 & ytd low at 1.2478, before challenging the Apr 11 2017 low at 1.2404.
Bulls need a convincing break of 1.27 (series of previous lows) & the 21-dma to
improve the short-term outlook. A close above targets the 38.2% retracement
level at 1.2744, ahead of the Dec highs at 1.2840.

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