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Sterling Faded Post EU Elections........>

CABLE TECHS
CABLE TECHS: Sterling Faded Post EU Elections
Sterling held firm into Europe underpinned by a recovery in global equities, but
soon started to fade with added weight from broad-based dollar demand. This took
GBPUSD back under 1.27 with near-term support at 1.2648 from Friday's low. Below
here would see bears focus return to the 1.26 level & Jan 3 hourly support at
1.2555. Bulls need to recover 1.2750, before challenging the 1.28 level. Above
here opens a run at neckline support-turned-resistance at 1.2910, with a break
suggesting a bullish reversal.

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