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Oversold But Not Enough For A Relief....>

CABLE TECHS
CABLE TECHS: Oversold But Not Enough For A Relief Rally
GBPUSD has given up all the gains that were triggered by the strong jobs numbers
and more, with fresh lows hit in Asian trading today. The bears look to target
the June 21 2017 low at 1.2589. While the pair is becoming oversold, it is not
yet at extreme levels, suggesting further weakness. Bulls need a sharp move back
above the 1.2835/40 area to stabilise the near-term outlook and attempt to
reverse the acute downtrend.

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