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Shallow Recovery GBPUSD posted five.....>

CABLE TECHS
CABLE TECHS: Shallow Recovery
GBPUSD posted five consecutive down days last week, before basing at 1.2715. The
rate briefly squeezed above $1.2750, but has so far failed to gain traction.
This keeps the downtrend intact with bears focus on a break of the 1.27 level,
below here opens a move toward the Jan 15 low & 2.0% lower Bollinger band at
1.2670/49. 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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