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Cable stalls out ahead of 1.2385 once again


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Cable makes a series of lower highs


I don’t like the look of this short-term chart. Cable has now tried three times to get above the 1.2385 level and has made a series of lower highs.
In the bigger picture, the pound chart is looking solid as it rebounds from 1.20. But the latest push has stalled at the mid-July low of 1.2382. That’s not a huge barrier but it might inspire some caution, especially with politicians going on a break.
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