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Cable Tumbles at NY Crossover, Exposes Key 50-day EMA

GBP
  • GBPUSD weakness extending in recent trade, with the rate showing below both the early low and yesterday's lows. More pivotal for the rate at these levels is 1.4040, the 50-day EMA, which should provide some stiff support going forward.
  • A move below there would switch the outlook more bearish, opening 1.4010 initially ahead of 1.3959 50% Fib.

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