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USDCAD TECHS

Pullback Considered Corrective

AUDUSD TECHS

Holding Above Recent Lows

US EURODLR OPTIONS

BLOCK, Large 3Y Midcurve Put Condor

Early Focus on UK Retail Sales

CABLE
MNI (London)

Recovery off Thursday's corrective pullback low of $1.3065 picked up momentum through the 1600BST fix, momentum lifting it back
above $1.3200, then breaking the 76.4% retrace level at $1.3219(76.4% $1.3267-1.3065) to a high of $1.3224 ahead of the close(close $1.3214). Move also saw EUR/GBP break back below its support at Gbp0.9000, extending the move to challenge its support at Gbp0.8970. Asia took over the baton of USD sales, edged cable on to $1.3251 ahead of the European open, where it encountered some profit take headwinds, though pullback so far remains very shallow. EUR/GBP is currently probing below Gbp0.8970. Early focus on UK Retail Sales(median ex-auto 0.2%mm, 1.5%yy) and Public Borrowing data. Flash PMI's due today, UK data at 0930BST with focus on Svcs(median 57.0).
Support seen back at $1.3210/00, $1.3185/80, $1.3150. Resistance $1.3251, $1.3267 ahead of $1.3280/85, with the $1.3300-15 key resistance area moving into view.

MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com