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Late Asia partial recovery off traded lows....>

CABLE
MNI (London)
CABLE: Late Asia partial recovery off traded lows of $1.3108 managed to extend
to $1.3130 ahead of the European open. However, sterling has come under fresh
downside pressure into Europe with rate easing back below $1.3120, though holds
off its earlier intraday low. Traders noted overnight that decent dip demand was
seen from leveraged and bank names. Minor support seen into $1.3100 but stronger
support remains from $1.3085 through to $1.3070. Stops have been suggested in
place on a break below. Hourly tech resistance reported at $1.3180/85, a break
here needed to expose the $1.3230/40 area. 
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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