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Approaching channel top: *RES 4:........>

CABLE TECHS
CABLE TECHS: Approaching channel top:
*RES 4: 1.2418 Low Jul 23
*RES 3: 1.2382/92 Low Jul 17 / 50-dma
*RES 2: 1.2305 Bear channel resistance drawn off the May 6 high
*RES 1: 1.2273 High Aug 22
*PRICE: 1.2233 @ 03:08 GMT Aug 23
*SUP 1: 1.2210 High Aug 6
*SUP 2: 1.2179 High Aug 20
*SUP 3: 1.2065 Low Aug 20 and key intraday support
*SUP 4: 1.2015 Low Aug12 and bear trigger
GBPUSD yesterday moved to its highest levels of the month so far following
further Brexit headlines that were positive The former key resistance of 1.2210
has been breached which could signal a S/T reversal and the start of a
correction. The next hurdle for bulls is the top of the bear channel at 1.2305,
drawn off the May 6 high. A break would mark an important bullish development.
To turn the short-term outlook neutral, bears need a close back below 1.2210.

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