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CABLE TECHS: No Sign Of A Bounce
GBPUSD broke below its July 19 low with ease yesterday on its way to the lower
boundary of the two month descending channel, where the trendline support
intervenes at 1.2900. Bears will look for a break below here to challenge
downtrend support off the May 29 low at 1.2860. Bulls need to regain 1.3000 to
stabilise the short-term outlook, and close above 1.3064 level to create
potential for a bullish reversal.