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Confidently Consolidating Ahead Of......>

CABLE TECHS
CABLE TECHS: Confidently Consolidating Ahead Of Confidence Confirmation
Brexit headlines continue to dominate sterling trading but no confirmation of a
vote of no confidence for Theresa May has led to the pound drifting higher this
morning. Last Thursday's low of 1.2724 remains intact for now as does up
trendline support from the Aug lows at 1.2704. To reignite upside momentum,
bulls need to break above the 50% retracement of 1.2696-1.3258/the 100-dma at
1.2977/16, opening the Nov 7 high at 1.3175, ahead of down trendline resistance
off the June high at 1.3198. On the downside, bears look to break below the Nov
15 low to open the Oct 30 low at 1.2696 & ytd low at 1.2662.

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