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Breaks back above $1.3900 as rate extends.....>

CABLE
MNI (London)
CABLE: Breaks back above $1.3900 as rate extends recovery off traded low of
$1.3836. Move aided as Eur/Gbp eases away from its earlier high of Gbp0.8910 to
currently trade around Gbp0.8875. Next support in the cross seen between
Gbp0.8860/55, then Gbp0.8850 with talk of stops placed below. For cable, rate
has met resistance at $1.3920, more expected toward $1.3940. Break here to open
a move toward $1.3960 ahead of $1.4000.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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