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Downtrend Resistance In Focus GBPUSD....>

CABLE TECHS
CABLE TECHS: Downtrend Resistance In Focus
GBPUSD has recovered the 1.31 which was lost just prior to Friday's close,
shifting the focus back to down trendline resistance from the March 13 high. A
close above 1.3132 gives control back to the bulls, targeting the 50%
retracement level & Apr 3 high at 1.3180/96. A clean break would suggest a large
bottoming pattern is playing out. Bears need to clear the 200-dma at 1.2970 to
shift the outlook, opening the Mar 1 low & 100-dma at 1.2949/45.

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