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Makes a Show Above $1.2900

CABLE
MNI (London)

Cable extended its recent recovery rally, made a brief show above
$1.2900 into the 1600BST fix, posting a high of $1.2902.
Corrective pullback seen shallow, meets support at $1.2868. Talk
that resistance remains at and above $1.2900, a break and clear
to open a move toward $1.2950. Early month-end models call for
USD sales to be seen at Friday's fixes, though ahead of that event
Wednesday (value date Jul31) could see US corporate demand
for USD's emerge, which could provide some counter, along with
possible EUR/GBP demand.

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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