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Bullish Following Break Of Key Hurdle...>

CABLE TECHS
CABLE TECHS: Bullish Following Break Of Key Hurdle
*RES 4: 1.3018 76.4% December 2019 - March 2020 Decline
*RES 3: 1.2849 High Mar 12
*RES 2: 1.2778 76.4% retracement of the Mar 9 - 20 sell-off
*RES 1: 1.2731 High Jun 5
*PRICE: 1.2690 @ 10:22 BST Jun 8
*SUP 1: 1.2731 Low Jun 5
*SUP 2: 1.2648 High Apr 14 and former key breakout level
*SUP 3: 1.2501 Low Jun 4 and key near-term support
*SUP 4: 1.2479 Low Jun 2
GBPUSD retains a bullish outlook. Last week's gains resulted in a break of and
close above the 50-day EMA. Furthermore, the pair also cleared resistance at the
1.2648 mark, Apr 14 high confirming a resumption of the recovery that started
off the Mar 20 low. This exposes 1.2778, a Fibonacci retracement and the Mar 12
high at 1.2849. Firm support lies at 1.2501, Jun 4 low low. A clear break of the
support would concern bulls.

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