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Cable Spiking To 1.1295 Amid Budget U-Turn Headlines

GBP
  • Consistent demand for GBP in recent trade amid the U-turn headlines dominating the feeds.
  • *UK OFFICIALS ARE WORKING ON A U-TURN FOR TRUSS'S TAX-CUT PLAN (BBG)
  • Cable extending above initial resistance at 1.1204, the 20-day EMA, printing fresh highs at 1.1295.
    • Further out we have 1.1474/95 - 50-day EMA / High Oct 5 and the bull trigger.

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