$1.3029-$1.3059 Still The Bar To Any....>

CABLE TECHS: $1.3029-$1.3059 Still The Bar To Any Recovery Hopes

*RES 4: $1.3154 Underside broken 8 week support line

*RES 3: $1.3112 Aug 3 low, now resistance

*RES 2: $1.3059 Aug 7 high

*RES 1: $1.3029/32 Aug 9, Aug 11 highs

*PRICE: $1.2977 @0924GMT

*SUP 1: $1.2960 Hourly support

*SUP 2: $1.2920/29 76.4% $1.2812-$1.3269, 50% $1.2589-$1.3269

*SUP 3: $1.2882 1.618 swing of $1.2939-$1.3032

*SUP 4: $1.2849 61.8% Fibo of $1.2589-$1.3269

*COMMENTARY* Continued pressure last week resulted in a fall to $1.2939 just

ahead of a stronger area between $1.2929-$1.2920. This a combination of two Fibo

retrace levels, the 50% of the rise from $1.2589 and perhaps slightly more

importantly, the 76.4% of the rise from $1.2812. Below here can allow an

overshoot around $1.2882 but any lower and $1.2849 comes into view. Meanwhile,

$1.3029-$1.3059 still provides resistance against any recovery process.