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Sterling back on the defensive has seen.......>

CABLE
CABLE: Sterling back on the defensive has seen GBPUSD slip to fresh multi-month
lows of $1.2613. Expect support on approach to the 1.26 level, a break here is
likely to accelerate the move toward the 2% lower Bollinger band at $1.2595.
- EURGBP closed above the 200-dma yesterday for the first time since
mid-January. The cross also extended its run to 13 straight sessions of gains.
Last Gbp0.8831.

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