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Tug of War The medium-term down.........>

CABLE TECHS
CABLE TECHS: Tug of War
The medium-term down trendline resistance from the July 9 high and the
short-term up trend channel are playing tug of war with GBPUSD at present. A
convincing break above the trendline resistance here would 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 1.3052 before challenging the bottom of the trend
channel at 1.3016, 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.

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