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Stuck In The Range GBPUSD's recovery....>

CABLE TECHS
CABLE TECHS: Stuck In The Range
GBPUSD's recovery stalled ahead of 1.2980, before drifting back into the range.
The short-term outlook remains neutral with bears focusing on a downside break
of 1.2854 to regain control. Below here opens the Jan 21 low & 50% retracement
level at 1.2831/29, ahead of the 50-dma at 1.2809. Bulls need to clear the
200-dma at 1.3023 to improve the outlook, with topside focus on a break of
1.3160 which would trigger a bullish pennant formation.

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