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Above the channel top: *RES 4: 1.2382...>

CABLE TECHS
CABLE TECHS: Above the channel top:
*RES 4: 1.2382 Low Jul 17
*RES 3: 1.2307/19 50-dma / 1.0% 10-dma envelope
*RES 2: 1.2310 High Aug 27 and key resistance
*RES 1: 1.2273 Intraday High
*PRICE: 1.2270 @ 08:27 GMT Sep 5
*SUP 1: 1.2205 Former channel top-now-support
*SUP 2: 1,2079 Low Sep 4
*SUP 3: 1.1959 Cycle low Sep 3
*SUP 4: 1.1948 10-dma 2% envelope
GBPUSD rallied impressively yesterday resulting in a break of the bear channel
top at 1.2216. This reinforces recent bullish signals. In candle terms, Tuesday
marked a hammer reversal. This was potentially important given that bullish
divergence between price and momentum is developing. The next piece to this
developing bullish puzzle, will be a break of 1.2310, the high of Aug 28.
Clearance would confirm a reversal. First support lies at 1.2079.

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