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CABLE TECHS: Outlook Neutral
Despite dipping as low as 1.2854 yesterday the pair staged a sharp recovery back
through 1.2950, keeping the outlook neutral. Bulls need to clear the 200-dma at
1.3023 to improve the outlook, with topside focus on a break of 1.3160 which
would trigger a bullish pennant formation. Bears need a downside break of
yesterday's low to regain control, targeting the Jan 11 high at 1.2866, ahead of
the 50-dma at 1.2809.