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GBP/USD momentum indicators still positive
The bounce goes on in cable, having seen over 200 points added in just over a week. Daily stochastics and the RSI are still pointing higher, with a first target around the 50-day SMA at $1.5526. A move through here targets the August high at $1.58, with dips likely to be bought along the way. A topping out of momentum might see us move back towards support at the 200-day SMA at $1.5350.