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Bearish outlook remains: *RES 4:........>

CABLE TECHS
CABLE TECHS: Bearish outlook remains:
*RES 4: 1.2450/60 Trendline off May 6 high/High Jul 26
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2250 High Jul 31
*RES 1: 1.2188 High 5 Aug
*PRICE: 1.2151 @ 02:24 GMT Aug 06
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2016 Bear channel base drawn off the May 6 high
*SUP 3: 1.2000 Psychological round number
*SUP 4: 1.1986 Low Jan 16 2017
The underlying bearish tone remains intact with immediate focus on last
Thursday's low at 1.2080, ahead of the psychological 1.20 level and
post-referendum lows at 1.1841. Yesterday's, high provides the initial point of
resistance, while a break of trendline resistance drawn off the May 6 high at
1.2450 is required to change the short-term outlook.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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