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Further relief for the major pairs............>

CABLE
CABLE: Further relief for the major pairs (primarily through EUR/USD) is feeding
through to GBP/USD, helping the rate touch $1.3291. Yesterday's NY highs of
$1.3298 provide the first resistance level before $1.3341, marking the week's
high. $1.3338 may garner some closer attention on any approach, where the May17
channel top kicks in and with the UK data calendar in its late-month quiet
spell, focus will remain on the technicals and Italy's current relief rally. 
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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