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Cycle lows in view: *RES 4: 1.2416/60...>

CABLE TECHS
CABLE TECHS: Cycle lows in view:
*RES 4: 1.2416/60 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: 1.2115 @ 08:26 GMT Aug 09
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2000 Psychological round number
*SUP 3: 1.1986 Low Jan 16 2017
*SUP 4: 1.1982 Bear channel base drawn off the May 6 high
Soft UK GDP data keeps sterling on the defensive holding toward the lower end of
its $1.2088-1.2210 weekly range. This brings the Aug 1 ytd low back into view at
1.2080, ahead of the psychological 1.20 level & 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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