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Uncomfortably Close to Major Support....>

CABLE TECHS
CABLE TECHS: Uncomfortably Close to Major Support
The Nov 15 low of 1.2724 is in view just ahead of the up trendline support from
the Aug lows, which comes in at 1.2715. Below here the August and Oct 30 lows at
1.2709/96 come into focus ahead of YTD lows at 1.2662. A break of these levels
would see support come in around June 2017's 1.2589. To return to a more bullish
outlook we need to see GBPUSD hold sustainably above 1.2911 (the 38.2%
retracement from 1.2696-1.3258). Above here, we have the 50-dma at 1.2971 and
the 100-dma/50% retracement at 1.2977.

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