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Double Top Sees Downtrend Continuing....>

CABLE TECHS
CABLE TECHS: Double Top Sees Downtrend Continuing
GBPUSD fell below its Oct 4's lows yesterday to trigger a double-top pattern
targeting fresh cycle lows. The close below 1.29 adds weight to the bearish
case. The 61.8% retracement of 2016 lows to 2018 highs is likely to provide some
near-term support at 1.2810 before the 2018 lows at 1.2662 come into focus.
Bulls need to initially break and close above up trendline resistance at 1.3023
and recover the 100-dma at 1.3073 to improve the near-term outlook.

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