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Triangle Resistance The formation of....>

CABLE TECHS
CABLE TECHS: Triangle Resistance
The formation of a symmetrical triangle has seen GBPUSD gains capped ahead of
1.3109. Rate briefly dipped under 1.3050 on reports that Labour & Conservative
talks had stalled, but this was later denied. Bears need to clear the 200-dma at
1.2969 to change the outlook, opening the Mar 1 low & 100-dma at 1.2949/48.
While a close above the Apr 12 high at 1.3133 gives control back to the bulls,
targeting the 50% retracement level & Apr 3 high at 1.3180/96. A clean break
would suggest a large bottoming pattern is playing out.

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