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Cable Page 2
GBP/USD ‘Cable’
Will Cable return to May highs of $1.305 (+2.4%) or pull back towards April lows of $1.236 (-3.0%)?
- Has fallen to pre-election lows of $1.265, however has found shallow intersecting support
- Will the bounce continue or will the rally lose momentum?
- Momentum negative but off worst levels
- Directional Indicators diverging bearishly
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Prepared by Michael van Dulken, Head of Research