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Remains one way traffic in GBP/USD, with......>

CABLE
CABLE: Remains one way traffic in GBP/USD, with the rate topping out at $1.2347
at writing. GBP's gains coinciding with implied vols in freefall for contracts
that cover the Oct31 as markets further price out the odds of a disruptive No
Deal Brexit. Topside resistance now lies at $1.2409 (Bollinger Band) and the
cloud base at $1.2382. Longer-term targets sit at the 100-dma at $1.2552.
- This plays further into the hands of GBP hedgers as premium costs continue to
reverse (see POV: GBP HEDGERS SHOULD WAIT TO OFFSET HIGH PREMIUMS - Sep4) 
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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