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Attempting The Upside *RES 4: 1.2582....>

CABLE TECHS
CABLE TECHS: Attempting The Upside
*RES 4: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 3: 1.2503 High Sep 24
*RES 2: 1.2433 100-day MA
*RES 1: 1.2413 High Oct 3
*PRICE: 1.2336 @ 04:24 GMT Oct 4
*SUP 1: 1.2207 Low Oct1
*SUP 2: 1.2197 61.8% Sep 3 - Sep 20 rise
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
*SUP 4: 1.2079 Low Sep 4
GBPUSD was volatile yesterday and did recover, to narrow the gap with the
100-dma at 1.2433, an initial resistance. The pair appears more constructive
following the ability to hold above Tuesday's low and more importantly 1.2197
this week. 1.2197 marks the 61.8% retracement of Sep 3 - Sep 20 rise and is an
important pivot point. While it holds, the potential for a stronger recovery
remains. A clear break of the 50-dma and 1.2197 support would be bearish.

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