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GBPUSD: Descending Channel Remains......>

CABLE TECHS
CABLE TECHS: GBPUSD: Descending Channel Remains Intact
Gains ran into resistance at the 21-dma yesterday, preventing a retest of the
upper boundary of the major descending channel, and shifting the focus lower. A
test of Friday's 1.3082 low is now back on the cards. Below here the July low of
1.2957 comes into play. A break of 1.3215 is needed to turn the near-term
picture positive.

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