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CABLE TECHS: Bulls return in full force
Broad based dollar selling appeared to trigger buy signals for GBP/USD as the
pair accelerated above the Thursday high. A close above the 50-dma keeps the
ball in the bullish court, opening favour Recovery efforts have so far held
shallow and keeps the downside in check. A weekly close below triggers renewed
bearish signals opening 1.3196 and the 1.32 handle. Targets north of here are
marked at the cloud top resistance & 38.2% fibo at 1.3161/81. To the downside,
200-dma & 61.8% retracement level sit at 1.2958/56. Expect further support from
the Apr 30 low at 1.2926, ahead of a run at the 1.29 handle.