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GBP performed well on Thursday on stronger....>

CABLE
CABLE: GBP performed well on Thursday on stronger than exp. UK retail sales
numbers, which came hot on the heels of the higher than exp. CPI numbers from
Wednesday. GBP/USD rallied through Wednesday's highs, ignoring the tension at
the EU leaders summit at Salzburg, finishing well above the 100-DMA.
- Cable last deals at ~$1.3270, bulls need to clear $1.3300 to cement the
shorter-term outlook and test the 38.2% retracement of the 2018 range at
($1.3317). Above here opens a move towards the Jun 7 high and 200-DMA at
($1.3472/$1.3520). Bears need to see a close back below the 100-DMA ($1.3159).
- Looking at the UK docket, Brexit matters remain front and centre, with final
Q2 GDP data due next week, in addition to BoE's Carney, Haldane, Ramsden &
Vlieghe speaking over the coming days.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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