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Free Access1.2763 the target: *RES 4: 1.2829.......>
CABLE TECHS: 1.2763 the target:
*RES 4: 1.2829 50-DMA
*RES 3: 1.2813 High May 21
*RES 2: 1.2763 High Jun 7 and key resistance
*RES 1: 1.2727 Intraday High
*PRICE: 1.2720 @ 15:42 GMT June 20
*SUP 1: 1.2543 Jun 19 low
*SUP 2: 1.2500 Round number support
*SUP 3: 1.2476 Low Dec 12, 2018
*SUP 4: 1.2407 Low Jan 3 and major support
Cable extends gains throughout Asia and European trading hours before flagging
slightly after topping out at 1.2727. The overnight breach of trendline
resistance at 1.2665 keeps momentum in favour of the bulls, with 1.2763 the next
target. A close above the trendline looks realistic Thursday, strengthening the
case for bulls. The bullish divergence between price and momentum is now
relevant in relation to a reversal.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.