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USD was seen under pressure through...........>

CABLE
MNI (London)
CABLE: USD was seen under pressure through Tuesday's NY session, allowed cable
to nudge to a high of $1.3018, as it corrected off its early NY low of $1.2953,
as well as further extending its recovery off its Feb20 YTD low of $1.2849. The
recovery in cable had outpaced EUR/USD's corrective move, which in turn saw
EUR/GBP dip below its key 10-dma(Gbp0.8350), but EUR/USD bounce saw it overtake
cable in NY which saw the cross edge back to Gbp0.8374. Cable settled back
around $1.3000 into the close. Sterling continued to pare Tuesday's gains
through Asia, cable drifting off to $1.2977 into Europe, while the cross edged
to Gbp0.8378.
- Support $1.2955/50, $1.2930, $1.2915. Resistance $1.3018/23, $1.3050. 
- A light data/speaker calendar in the UK Wednesday. Focus remains on Virus
spread and its effect on risk outlook.  
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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