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Challenging 100-dma Broad based.........>

CABLE TECHS
CABLE TECHS: Challenging 100-dma
Broad based dollar demand pressured GBPUSD through 1.30 to rest on support from
the 100-dma. Recovery efforts have so far held shallow and keeps the downside in
check. A weekly close below triggers renewed bearish signals opening the 200-dma
& 61.8% retracement level at 1.2958/56. Expect further support from the Apr 30
low at 1.2926, ahead of a run at the 1.29 handle. Bulls need a close above 1.31
& the 50-dma to change the outlook, opening a move toward cloud top resistance &
38.2% fibo at 1.3161/81.

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