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Could be the cable needs cleaning out and re-lubing. Also could be a burr in the cable catching on the sheath of the cable. Most I've delt with were frayed cable related problems that "catch" on the cable covering and cause the bouncing.
Sometimes a lube will work but more often the cable needs replaced. On rare occasions the speedometer head will need to be replaced. So repair priority goes; lube first, replace cable, then replace speedo head.
My speed does the same thing. I've already replaced the cable but it hasn't fixed the problem. Someday I'll try lubeing the gear in the speedo head. If the speedo head needs replacement, and you can't find one at a junk yard, you're in for a bit of heartache cuz they're kinda pricey. Just travel as fast as everyone else and you should be okay.
Speedometer heads are readily available in junkyards. They are also sold on eBay all the time. Instrument clusters are similar from the 73 LD F-series on up thru the late 80's vans. IMO the speedometer head is not worth repairing. They do wear out and sometimes a tiny bit of dirt or debris in the magnetic coupler is causing the needle jump. You can almost never find those to clean them out. There are some speedo shops around that have the tools and knowledge to fix them if you must.
I took the speedo from an old mustang, and re-decaled an early painted-on speedo face, (washed off the 100 mph lettering, and replaced it with 140 mph in 20 mph increments, and dots every 5mph) it was cool, and fairly accurate.