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No Sign of a Bounce GBPUSD extended.....>

CABLE TECHS
CABLE TECHS: No Sign of a Bounce
GBPUSD extended its downtrend yesterday to close below 1.28 for the first time
since Jan 15. The MNI FX Technical Signal Monitor is currently generating a near
clean sweep of bearish signals with immediate support at 1.2775/73 from the Feb
15 & Feb 14 lows. Below here opens the Jan 15 low & 76.4% retracement of the Jan
- Mar rise at 1.2670/63. Bulls initially need to recover 1.2850/55 to stabilise
the outlook, while a break back above 1.29 would suggest a potential squeeze to
the 200-dma at 1.2958.

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