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From : FX Daily Hotline: 30 June 2016
Chart of the day: Cable steadier, but...

 

Having become oversold, the British Pound's fall from the dramatic 'Peak' Key Day Reversal of 24 June against the US Dollar displays a loss of momentum at US$1.3121; a level not seen since 1985.  That said, however, a more forceful up move is required to reaffirm support in that area, as the current bounce still has a 'dead cat' look about it. 






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