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Broader selling going through

GBP
  • The Pound is also breaking out lower against the Dollar with some momentum selling after breaking the initial support of 1.2597 Low Jan 17 and key range support.
  • There isn't much in terms of Technical at current prices, and further fall in Cable, will eye 1.2525 38.2% retracement of the Oct 4 - Dec 28 bull phase next.
  • Looking at the price action in the Pound, the move may have been helped by a fix trade, given the lack of traction.

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