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Yields fall across the board


USD/JPY Fading Alongside Equities


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CABLE TECHS: Key Support Is 1.2849
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3075 61.8% retracement of the Feb 3 - Feb 20 decline
*RES 1: 1.3047/70 50-dma / High Feb 5 and 13
*PRICE: 1.2899 @ 10:28 GMT Feb 24
*SUP 1: 1.2849 Low Feb 20 and key support
*SUP 2: 1.2840 1.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD is under some pressure this morning. Although the recovery off Thursday's
low is encouraging for bulls, a stronger move higher is required to strengthen a
bullish argument. Attention is on resistance at 1.3070, Feb 13 high. This would
signal scope for an extension towards 1.3215, the Feb 3 high and also key
near-term resistance. While 1.3070 remains intact though, a bearish threat
dominates. Sub 1.2849 levels would resume the downtrend.

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