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Focus on the Downside Again The pound...>

CABLE TECHS
CABLE TECHS: Focus on the Downside Again
The pound has been under pressure today, breaking out of its short-term sideways
trend and approached the Nov 15 low of 1.2724. Below here the uptrend from the
August lows comes in ahead of the Oct 30 low at 1.2709/96 before the YTD lows at
1.2662 come into play. A break of these levels would see support around the June
2017 lows at 1.2589. To return to a more bullish outlook we need to see GBPUSD
hold sustainably above 1.2911 (the 38.2% retracement from 1.2696-1.3258). Above
here 1.2977 and the 100/50 dmas at 1.2990/93 come into play.

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