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Decent Intraday Bounce *RES 3: 1.3212...>

CABLE TECHS
CABLE TECHS: Decent Intraday Bounce
*RES 3: 1.3212 High Jan 7
*RES 2: 1.3173 High Jan 24
*RES 1: 1.3110 High Jan 30
*PRICE: 1.3107 @ 10:23 GMT Jan 30
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2938/05 Trendline support drawn off the Sep 3 low / Low Dec 23
*SUP 3: 1.2824 Low Nov 22
Thanks to an unchanged BoE rate decision, GBPUSD picked itself up off the mat
Thursday, rallying to break through any resistance ahead of the $1.31 handle.
After last week's strength stalled at 1.3173 on Jan 24, this becomes the key
target for bulls going forward and a break above could balance the outlook. A
rebound would see bulls target 1.3212 next ahead of the 1.3281 Fibonacci
resistance area. A reversal lower remains a possibility though. The initial
trigger for weakness is 1.2955, the Jan 14 low. Trendline support is at 1.2938.

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