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Bullish conditions hold: *RES 4:........>

CABLE TECHS
CABLE TECHS: Bullish conditions hold:
*RES 4: 1.2522/38 High Jul 24 / 100-dma
*RES 3: 1.2466 1.0% 10-dma envelope
*RES 2: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 1: 1.2385 High Sep 5
*PRICE: 1.2339 @ 03:48 GMT Sep 10
*SUP 1: 1.2210 Low Sep 5
*SUP 2: 1.2171 Former channel top, now support
*SUP 3: 1.2079 Low Sep 4
*SUP 4: 1.1959 Cycle low Sep 3
Having started the week strongly, the recent bullish reversal in GBPUSD cemented
further Monday, taking out last week's highs with relatively little difficulty.
This maintains the bullish outlook and adds weight to the argument that the
current recovery is likely to hold. The focus is on the 1.2427 Fibonacci
retracement and the 100-dma above there, currently at 1.2538. Support lies at
the 1.2210-2171 zone, Sep 5 low and the former channel top.

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