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Rate breaking down slightly from the day's....>

CABLE
CABLE: Rate breaking down slightly from the day's best levels in recent trade
having printed up at $1.2271. Today's and yesterday's lows at $1.2208/09 should
provide decent support initially before the lower 1.0% 10-dma envelope kicks in
at $1.2049. Market focus shifts to any headlines emanating from the call due
later today between UK PM Johnson and his EU's Juncker, in which they're
expected to discuss the viability (or lack thereof) of backstop alternatives as
part of the Brexit deal. Any fall through the lower envelope line would re-open
cycle lows at $1.2015 printed on August 12th.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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