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Recovery off earlier lows of $1.2968,.........>

CABLE
MNI (London)
CABLE: Recovery off earlier lows of $1.2968, driven by EUR-USD's lead
correction, though rate met initial resistance at $1.3022 into the 1600BST fix.
A brief pullback to $1.3009 before fresh demand emerged to push rate above its
earlier high of $1.3026, as well as Wednesday's NY recovery high of $1.3028,
faltering at $1.3036 in post Europe trade. Resistance now seen into $1.3050
($1.3051 38.2% $1.3185-1.2968) ahead of $1.3080. Support $1.3010/00 ahead of
$1.2975/65. Still no reported progress on the Conservative-Labour Brexit talks
with both parties now expected to concentrate on the upcoming European elections
following their poor results in the recent local elections. Friday brings UK Q1
GDP, Construction, IP and Trade data at 0830GMT.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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