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Close Below 50-dma Key to Keep Down.....>

CABLE TECHS
CABLE TECHS: Close Below 50-dma Key to Keep Down Momentum in Full Swing
After breaking below key support around 1.2810 yesterday, GBPUSD is finding
support around the 1.2786 level. The Jan 3 low at 1.2441 comes in below here. At
the time of writing, GBPUSD had moved back above the 50-dma at 1.2819 and it
needs to close below this level today to keep downward momentum in full swing.
Bulls need a close above the 100-dma & Feb 7 high at 1.2878/96 to bring the
200-dma at 1.3006 into view. Topside focus remains on a break of 1.3160 which
would trigger a bullish pennant formation.

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