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The broader based USD gains in the second.....>

CABLE
CABLE: The broader based USD gains in the second half of Tuesday trade pressured
GBP/USD, with the cross moving below the $1.31 mark for the first time since the
re-open of trade on Sunday, before reclaiming the figure, last $1.3110.
- Initial support is noted at the July 27 low ($1.3083), with a break opening up
a move to the 61.8% retracement of the move from $1.2958 to $1.3213 ($1.3055).
Resistance noted at Tuesday's high ($1.3173).
- UK manufacturing PMI headlines the UK docket today. Looking ahead, tomorrow's
BOE decision steals the show, with MNI PINCH pricing a greater than 90% chance
of a 25bp hike, in spite of soft data & Brexit concerns. In the case of a hike
focus will fall on the vote split & r* projection.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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