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*** Gets pulled lower by Eur/Usd slippage,....>

CABLE
MNI (London)
CABLE: *** Gets pulled lower by Eur/Usd slippage, move though mainly seen led by
Usd demand in the majors. Cable extends intraday lows to $1.3164, as rate
continues to pare back recovery gains to the earlier Asian high of $1.3197(off
Tuesday low of $1.3155). Support remains in place between $1.3155/45, reported
model demand at $1.3155/50 helped to cushion the move lower Tuesday, with market
aware that Citi's Trade of the Week (long cable) has its stop placed on a break
of $1.3150. However, there is a Fibonacci retrace level close behind at
$1.3146(61.8% $1.3027-$1.3337) suggesting that stops could be larger through
$1.3145/40, though no confirmation for this. Cable trades around $1.3168 at
posting. Focus on today's UK Employment Report at 0830GMT. 
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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