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1.2789 Support Is The Bear Trigger......>

CABLE TECHS
CABLE TECHS: 1.2789 Support Is The Bear Trigger
*RES 4: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 3: 1.3013 High Oct 21 and bull trigger
*RES 2: 1.2976 High Oct 31
*RES 1: 1.2948 Trendline resistance drawn off Oct 21 high
*PRICE: 1.2815 @ 10:32 GMT Nov 8
*SUP 1: 1.2789 Low Oct 24 and key near-term support
*SUP 2: 1.2750 Low Oct 17
*SUP 3: 1.2707 200-day MA
*SUP 4: 1.2603 Low Oct 15
GBPUSD traded lower yesterday and a bearish threat remains in place. From a
directional perspective, we still see potential for a deeper sell-off before
stronger bullish activity resumes, as the uptrend since Oct 8 has been steep.
The trigger for an extension lower is 1.2789, Oct 24 low. This would open
1.2707, the 200-DMA and 1.2603, Oct 15 low. On the upside for bulls to get
excited again, prices need to clear the bull trigger at 1.3013, Oct 21 high.

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