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A look at long-term Sterling charts reveal some interesting price and trend features that may play a role in assessing price action over the medium-term.
- Cable is trading close to a trendline resistance drawn off the 2007 high that intersects at 1.3421. If the trendline is breached, it would certainly be a bullish development. However it would also be important to assess whether the break higher is down to USD weakness and/or Sterling strength to gauge the medium and even longer-term implications of a break. Cable is trading at 1.3221.
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