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Dip Buying Under 1.27 GBPUSD............>

CABLE TECHS
CABLE TECHS: Dip Buying Under 1.27
GBPUSD encountered renewed dip buying under 1.27 with momentum-type accounts
briefly extending the rally above 1.2750. Despite this the longer-term downtrend
remains intact with bears targeting a break of the 2018 low at 1.2662. Below
here lies the measured move target from the double top formation down at 1.2500.
Bulls initially need to recover the upper bound of the downtrend channel at
1.2944 to shift the outlook neutral, before challenging up trendline resistance
& 100-dma at 1.3047.

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