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Soft UK Data Knocks Sentiment...........>

CABLE TECHS: Soft UK Data Knocks Sentiment
Sterling encountered renewed pressure following the weak set of UK data. The
corrective pullback off Friday's post NFP highs (1.2762) extended back through
1.2700 and brings the 200-hma & 50% retracement level into view at 1.2668/61.
Below here opens the Jun 3 low at 1.2611, ahead of the May 31 ytd low at 1.2559.
Bulls need to overcome 1.2760/65 to return the focus towards 1.2800. While any
move above 1.2813 would suggest that a bullish reversal is in play.

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