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Bearish Outlook GBPUSD based ahead of...>

CABLE TECHS: Bearish Outlook
GBPUSD based ahead of 1.2810 but has so far failed to show any meaningful signs
of a recovery. The short-term outlook remains bearish with immediate focus on
1.2750, a break confirms the bearish reversal and brings the ytd low at 1.2662
back into view. Bulls need a sustained rally back above 1.29 to allow them to
target the 50-dma which is acting as near-term resistance at 1.3020. A break
here would confirm a solid base is forming, opening the August highs at 1.3143.

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