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Attempting To Break Above 1.1100


AOFM Weekly Issuance Slate


Early Cheapening Extends

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CABLE TECHS: Bullish Focus
*RES 4: 1.2812 2.0% 10-dma envelope
*RES 3: 1.2755 High Jun 11
*RES 2: 1.2705 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2566 @ 05:56 BST Jul 17
*SUP 1: 1.2488/80 50-day EMA / Low Jul 14
*SUP 2: 1.2438 Low Jul 3 and key near-term support
*SUP 3: 1.2360 Low Jul 1
*SUP 4: 1.2252 Low Jun 29 and key support
GBPUSD is consolidating and importantly remains above 1.2480, Jul 14 low. This
keeps the technical picture largely unchanged and bullish with attention on
1.2670, Jul 9 peak. A break would confirm a resumption of the recovery that has
been in place since Jun 29 and open 1.2813, Jun 10 high. Moving average studies
maintain a bullish position reinforcing the current positive outlook. A move
below 1.2480 though would threaten the current bullish cycle.

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