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

CABLE TECHS
CABLE TECHS: Bullish reversal intact:
*RES 4: 1.2545 100-dma
*RES 3: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 2: 1.2382 Low Jul 17
*RES 1: 1.2354 High Sep 5
*PRICE: 1.2276 @ 03:40 BST Sep 9
*SUP 1: 1.2210 Low Sep 5
*SUP 2: 1.2182 Former channel top, now support
*SUP 3: 1.2079 Low Sep 4
*SUP 4: 1.1959 Cycle low Sep 3
GBPUSD begins the week on a firm note following last weeks strong rally. The
result was a break above the bear channel top Wednesday and a move through
former resistance at 1.2310, Aug 27 high. These developments confirm the bullish
divergence between price and momentum, adding weight to the argument that this
bullish reversal is likely to hold. The focus is on 1.2382 and the 1.2427
Fibonacci retracement. Support is at 1.2182, the former channel top.

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