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Recovery Lacks Conviction The lows......>

CABLE TECHS
CABLE TECHS: Recovery Lacks Conviction
The lows printed Tuesday were untroubled throughout the Wednesday session, but
those looking for a firm recovery were left disappointed as GBP/USD failed to
build above $1.28. This keeps the outlook tilted lower, with the August and Oct
30 lows at 1.2709/96 before the YTD lows at 1.2662 in play. A break of these
levels would see support come in around June 2017's 1.2589. To return to a more
bullish outlook we need to see GBPUSD hold sustainably above 1.2911 (the 38.2%
retracement from 1.2696-1.3258). Above here 1.2977 and the 100/50 dmas at 1.2985
come into play.

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