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STO Technical - Cable struggling

STO

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Look for further weakness on GBP/USD as it is heading towards the 100 day moving average, in line with recent support around the 1.2400 level. Resistance around recent highs of 1.2550 should remain in place.

EUR/JPY rebounded off the 38.2% Fibonacci retracement of last year’s rally, but downward momentum remains. Look for support at 118.40 then September highs of around 116.20.

This article comprises the personal view and opinion of the STO Investment Research Desk and at no time should be construed as Investment Advice.

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Source: https://www.stofs.com/en/newsroom/entry/TECHNICAL/cable-struggling
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