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Cycle low in view: *RES 4: 1.2428/60....>

CABLE TECHS
CABLE TECHS: Cycle low in view:
*RES 4: 1.2428/60 Trendline off May 6 high/High Jul 26
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2250 High Jul 31
*RES 1: 1.2210 High Aug 6
*PRICE: 1.2123 @ 14:46 GMT Aug 08
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2004 Bear channel base drawn off the May 6 high
*SUP 3: 1.2000 Psychological round number
*SUP 4: 1.1986 Low Jan 16 2017
FT reports citing government sources, that Boris Johnson could seek to hold a
General Election on Nov 1st, one day after Brexit, triggered fresh sterling
sales. This keeps the longer-term downtrend intact, opening a return to
Thursday's low at 1.2080, ahead of the psychological 1.20 level and
post-referendum lows at 1.1841. Bulls need to clear the previously hard to
overcome 1.2205/10 area, before challenging the Jul 31 high.

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