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Bullish reversal holds: *RES 4:.........>

CABLE TECHS
CABLE TECHS: Bullish reversal holds:
*RES 4: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2354 High Sep 5
*SUP 1: 1.2309 50-dma
*PRICE: 1.2295 @ 08:40 GMT Sep 6
*SUP 1: 1.2210 Low Sep 5
*SUP 2: 1.2194 Former channel top, now support
*SUP 3: 1.2079 Low Sep 4
*SUP 4: 1.1959 Cycle low Sep 3
GBPUSD's impressive rally extended further Thursday, clearing the 50-dma and
extending the climb above the former channel top that was breached Wednesday.
The pair has also cleared 1.2310, Aug 27 high. This Confirms the bullish
divergence between price and momentum, adding weight to the argument that this
bullish reversal is likely to hold. Upside targets lie at 1.2382 and the
Fibonacci retracement at 1.2427. First support lies at 1.2194 ahead of 1.2079.

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