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Stg based short covering possibly linked to...>

CABLE
CABLE: Stg based short covering possibly linked to Gbp/Jpy? breaks the narrow
European morning range to $1.3364. Next resistance is seen at $1.3398/04 (Hourly
high Dec11, 38.2% $1.3521-1.3331). Eur/Gbp pares early gains to Gbp0.8812,
expect support ahead of Gbp0.8800. Focus remains on UK CPI at 0930GMT for
clearer direction. 

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