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Has backed away from its extended high of.....>

CABLE
MNI (London)
CABLE: Has backed away from its extended high of $1.3128 to currently trade
around $1.3115 with move seen tracking EUR/USD whilst EUR/GBP continues to find
support at Gbp0.8905. UK Mfg PMI next up at 0830GMT. Market median 54.2 vs 54.4
last, a slight weakening though not expected to affect GDP outlook if proves
correct. Resistance in cable between $1.3128/32(intraday high and NY recovery
high off $1.3090) ahead of $1.3140/50. Support $1.3096/90 ahead of $1.3084/83
and $1.3072. EUR/GBP support Gbp0.8905/00 ahead of Gbp0.8880. Resistance
Gbp0.8936. 
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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