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CABLE TECHS: Bullish Outlook Softening
*RES 4: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 3: 1.2503 High Sep 24
*RES 2: 1.2425 100-day MA
*RES 1: 1.2413 High Oct 3
*PRICE: 1.2206 @ 15:52 GMT Oct 8
*SUP 1: 1.2195 Low Oct 8
*SUP 2: 1.2180 1.0% 10-dma envelope
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
*SUP 4: 1.2079 Low Sep 4
The pair made light work of the 50-dma support Tuesday as dire Brexit news
pressured the currency. This has threatened the modestly positive outlook,
particularly as Fib support at gave way. This opens a revisit of 10-dma envelope
support at 1.2180 and a deeper decline to the low 1.21's. For bulls to regain
control, upside targets have shifted to 1.2357 and the 1.2413 mark. These late
September highs must be regained before focus can turn back to 1.2582.