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Bearish Price Sequence *RES 4: 1.2755...>

CABLE TECHS
CABLE TECHS: Bearish Price Sequence
*RES 4: 1.2755 High Jun 11
*RES 3: 1.2688 High Jun 16 and key near-term resistance
*RES 2: 1.2567 High Jun 18
*RES 1: 1.2456 High Jun 19
*PRICE: 1.2386 @ 05:57 BST Jun 22
*SUP 1: 1.2336 Intraday low
*SUP 2: 1.2322 Low Jun 1
*SUP 3: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
*SUP 4: 1.2206 Low May 27
GBPUSD fell further Friday to take out the 61.8% Fibonacci support at 1.2358 and
maintains a bearish tone. The move lower marks an extension of the pullback that
started on Jun 10 following an inability to extend the break of the April highs.
A bearish price sequence of lower lows and lower highs has also been
established. Attention is on 1.2250 next. Firm resistance has been defined at
1.2688, Jun 16 high.

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