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Bears in control After a poor finish....>

CABLE TECHS: Bears in control
After a poor finish to the week, GBPUSD extended losses Monday to touch 1.2554,
the lowest spot rate since the January flash crash and a close here would be the
first since mid-December. Bears now eye the base of the 1.0% 10-dma envelope at
1.2551 ahead of the lower 3% Bollinger band at 1.2535. Bulls need to clear
1.2700/10 (series of hourly highs/lows through June), before challenging the
1.2755/65 area. Above here opens a run at the 1.28 level, with any move through
1.2813 triggering a bullish reversal.

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