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Watching Support At The Former Channel Top


Weaker On Wednesday


(Z2) Still Looking For Gains


(Z2) Bull Cycle Still In Play

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CABLE TECHS: Bearish Focus
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2813 High Jun 10 and the bull trigger
*RES 2: 1.2755 High Jun 11
*RES 1: 1.2688 High Jun 16
*PRICE: 1.2549 @ 05:46 BST Jun 18
*SUP 1: 1.2455 Low Jun 15 and the intraday bear trigger
*SUP 2: 1.2358 61.8% retracement of the May 18 - Jun 10 rally
*SUP 3: 1.2322 Low Jun 1
*SUP 4: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
GBPUSD is unchanged. The pair traded below 1.2501, Jun 4 low on Friday to place
on pause a recent bullish outlook. This move lower last week continues to
highlight a near-term bearish risk. A break of 1.2455, Jun 15 low would signal
scope for a move to 1.2322, Jun 1 low. On the upside, key resistance is at
1.2813, Jun 10 high. A print above this level would instead confirm a resumption
of the up-trend.

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