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Consolidating Gains Despite failing.....>

CABLE TECHS: Consolidating Gains
Despite failing to consolidate gains above down trendline resistance from the
July 9 high, the short-term up trend channel remains in place. A convincing
break of the down trendline resistance would allow GBPUSD to move to the top of
the channel, which comes in just below the mid-Oct highs at 1.3256/58. Above
here would open the Sep 20 high at 1.3298. Bears need a close back below the
200dma at 1.3052 to gain some breathing room, while a close back below 1.2986,
which marks uptrend support from the Jan 3 lows, would put focus back on the
1.28 level.

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