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Recovery Lacks Bite GBPUSD posted.......>

CABLE TECHS
CABLE TECHS: Recovery Lacks Bite
GBPUSD posted five consecutive down days last week, before basing at 1.2715.
Despite the rate squeezing above 1.2750, recoveries have so far lacked momentum
and keeps the downtrend intact. Bear focus returns to the 1.27 level, with a
break here needed to challenge the Jan 15 low at 1.2670. Bulls initially need to
recover 1.2800 to stabilise the outlook and allow a run at neckline
support-turned-resistance at 1.2900. Above here would suggest a potential
squeeze to the 200-dma at 1.2957.

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