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Bearish Reversal Despite squeezing......>

CABLE TECHS
CABLE TECHS: Bearish Reversal
Despite squeezing through 1.31 yesterday, the risk-averse theme attributed to
Italian budget concerns has seen GBPUSD dip back under 1.30. A close below the
50-dma would confirm a bearish reversal, opening the Sep 5 low at 1.2786, ahead
of the ytd low at 1.2662. Bulls need to reclaim the 100-dma at 1.3126 to change
the short-term outlook, before targeting the 1.3200 level ahead of 1.3317 which
represents the 38.2% retracement of the 2018 range.

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