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Managing to hold just off its extended high...>

CABLE
MNI (London)
CABLE: Managing to hold just off its extended high of $1.3329, currently around
$1.3327 despite Gbp/Jpy pulling back from its traded high of Y146.67 as Jpy
makes general gains. Eur/Gbp off lows, currently around Gbp0.8992, off early
Europe low of Gbp0.8983. Stops in this cross noted on break of Gbp0.8980, which
if triggered could boost sterling further. Resistance in cable currently seen
into $1.3330, a break to open a move toward $1.3350/60. Cable has ventured
outside of its 2.0% envelope, drawn around the 10-dma, and today comes in at
$1.3319. Not a technical resistance itself though rate doesn't tend to like to
be outside for too long. 
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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