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Consolidating close to the highs:.......>

CABLE TECHS
CABLE TECHS: Consolidating close to the highs:
*RES 3: 1.2522 High Jul 24
*RES 2: 1.2427 38.2% retracement 1.3185 - 1.1959
*RES 1: 1.2385 High Sep 9
*PRICE: 1.2325 @ 15:46 GMT Sep 11
*SUP 1: 1.2285/34 50-dma/Low Sep 9
*SUP 2: 1.2210 Low Sep 5
*SUP 3: 1.2160 Former channel top, now support
The Wednesday session was one of consolidation. Having started the week well,
GBPUSD failed to print a new recovery high Tuesday and today, although prices
hold close to the upper end of the recent range. This maintains the bullish
outlook and adds weight to the argument that the bullish theme is likely to
hold. The focus is on the 1.2427 Fibonacci retracement and the 100-dma above
there, currently at 1.2527. Support lies at 1.2234, Monday's low ahead of the
1.2210-2160 zone, Sep 5 low and the former channel top.

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