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There will be much ink expended in trying to determine whether cable has found a bottom. If the bulls can mount a defence of $1.32 then we may see some upward moves, potentially to $1.36 in the short-term, with $1.40 the key to watch in the coming weeks.
At present, with so much doom and gloom the pound may find it difficult to push higher, and any close below $1.32 opens the way longer-term to $1.20 and $1.15.