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Gets pressed down to retest Jun4 low of.......>

CABLE
MNI (London)
CABLE: Gets pressed down to retest Jun4 low of $1.2501 as sterling comes under a
late Europe sell off. Rate has traded to $1.2499 at writing as market probes for
possible stops placed below the figure. If rate can move lower expected to meet
technical support around $1.2488/79(50% $1.2162-1.2813/Jun2 low) ahead of
$1.2450. Some see this squeeze as opening opportunities for a possible
corrective rally into Asian trade Monday as that market liable to react more to
weekend press pick ups. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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