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CABLE TECHS: Dip Buying Under 1.27
GBPUSD encountered renewed dip buying under 1.27 with momentum-type accounts
extending the rally initially to 1.2750, before Brexit headlines drove prices
(briefly) north of 1.2800. 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