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GBP retains an underlying bid tone in......>

STERLING: GBP retains an underlying bid tone in early NY which has seen GBPUSD
peak at $1.2772. Bulls need a close above the $1.2750/55 area for confirmation
of the uptrend to challenge the August 14 spike high at $1.2827. GBPJPY holds
around Y141.20 with alternating hourly supp/resistance the next hurdle at
Y141.30/35, through here opens Y141.49 which represents the 61.8% retracement of
Y142.70-139.90. Above here opens the Aug14 high at Y142.47.  

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