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Struggling For Traction Despite.........>

CABLE TECHS
CABLE TECHS: Struggling For Traction
Despite briefly trading above the 1.27 handle, GBPUSD has so far failed to build
on gains and keeps the recent downtrend intact. Bears continue to focus on a
break of 1.25 & the ytd low at 1.2478, before challenging the Apr 11 2017 low at
1.2404. Bulls need a convincing break of 1.27 (series of previous lows) to
stabilise the short-term outlook. A close above targets the 21-dma & 38.2%
retracement level at 1.2716/44, ahead of the Dec highs at 1.2840.

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