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Trying to Convincingly Break Higher.....>

CABLE TECHS
CABLE TECHS: Trying to Convincingly Break Higher
GBPUSD traded above the down trendline resistance from the July 9 high on Friday
but we are yet to convincingly break above. At the same time, cable has been
cable has been in an up trend channel since the beginning of the year. A
convincing break of the down trendline resistance will allow GBPUSD to move to
the top of the channel, which comes in just below the mid-Oct highs at
1.3256/58. Above here would open the Sep 20 high at 1.3298. Bears need a close
back below the 200dma at 1.3056 to gain some breathing room, while a close back
below 1.2986, which marks uptrend support from the Jan 3 lows, would put focus
back on the 1.28 level.
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets
Foreign Exchange Technical AnalysisMarketsForeign Exchange Bullets

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