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GBP/USD has edged higher and last deals at....>

CABLE
CABLE: GBP/USD has edged higher and last deals at $1.2665. This follows the
rate's 46 pip ascent registered yesterday, mostly on weak USD. Stronger than
exp. UK retail sales figures might have helped in lifting cable above $1.2700
for the second time this week, to intraday high at $1.2707. However, GBP/USD
ebbed off the peak upon the release of the BoE MonPol decision, which left the
rate unchanged, as expected, with the central bank downgrading its near-term
growth forecast. The pair's fall was almost wholly erased thereafter, before
another slip towards the end of the day. 
- Bulls need to retake yesterday's high before targeting the Dec 10 hourly
resistance at $1.2720, while bears eye yesterday's low of $1.2608 before
challenging the Dec 17 low of $1.2671. 
- UK focus today turns to domestic GDP.

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