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Downtrend Intact Lack of clarity from...>

CABLE TECHS
CABLE TECHS: Downtrend Intact
Lack of clarity from PM May's press conference with added weight from strong US
Retail Sales, further pressured the pound through 1.2550. Recovery efforts hold
shallow to keep the downtrend intact, bringing the ytd low at 1.2478 back into
view, ahead of the Apr 11 2017 low at 1.2404. Bulls need to clear 1.27 (series
of previous lows) to stabilise the short-term outlook. A close above targets the
21-dma & 38.2% retracement level at 1.2739/44, ahead of the Dec highs at 1.2840.

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