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Channel top cracking: *RES 3:...........>

CABLE TECHS
CABLE TECHS: Channel top cracking:
*RES 3: 1.2314/15 1.0% 10-dma envelope/50-dma
*RES 2: 1.2310 High Aug 27 and key resistance
*RES 1: 1.2220 Intraday High
*PRICE: 1.2199 @ 16:07 GMT Sep 4
*SUP 1: 1.1959 Cycle low Sep 3
*SUP 2: 1.1948 10-dma 2% envelope
*SUP 3: 1.1841 Post-Brexit Referendum Low
After hitting fresh YTD lows this week the pair's continued its bounceback,
staging a very decent test of the channel top at 1.2216. A close above here
would go a long way to shifting the outlook more positive, to turn upside
targets to 1.2310 and the 50-dma. A number of bullish signals have surfaced. In
candle terms, Tuesday marked a hammer reversal. This is potentially important
given that bullish divergence between price and momentum is developing. For
bears, sub 1.1959 resumes the downtrend.

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