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CABLE TECHS: Back on The Defensive
The resignation of senior Brexit ministers further pressured GBPUSD through
1.2850. Headlines continue to dictate price action with bears focusing on a
close below 1.28 to resume the downtrend, opening the potential return to the
Oct 31 low at 1.2699 & ytd low at 1.2662. Bulls need to recover the 100-dma at
1.3025 to change the short-term outlook, above here opens the Nov 7 high at
1.3175, ahead of down trendline resistance off the June high at 1.3198.