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Directionless and Stuck Within..........>

CABLE TECHS
CABLE TECHS: Directionless and Stuck Within Yesterday's Range
GBPUSD has broken through down trendline resistance on the intraday chart this
morning but has remained within yesterday's trading range. Medium-term
resistance at the 1.2975 level just above the 200/100-dma's at 1.2964/59
continues to provide support, leaving GBPUSD in a neutral pattern for now. A
close below here is needed to open the Mar 10 low & cloud base at 1.2949/11.
Below here would extend the selloff towards the mid-Feb lows. Bulls look to
recover the 1.3050/55 area before challenging triangle top resistance, which
comes in around 1.3050. Above here opens a run at the 1.31 level, ahead of the
Apr 12 high at 1.3133.

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