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Defies bears for a second session:......>

CABLE TECHS
CABLE TECHS: Defies bears for a second session:
*RES 4: 1.2361 Bear channel resistance drawn off the May 6 high
*RES 3: 1.2220/50 Upper 1.0% 10-dma env / High Jul 31
*RES 2: 1.2210 High Aug 6 and key resistance
*RES 1: 1.2152 High Aug 9
*PRICE: 1.2121 @ 08:05 GMT Aug 16
*SUP 1: 1.2015 Low Aug12
*SUP 2: 1.2000 Psychological round number
*SUP 3: 1.1986 Low Jan 16 2017
*SUP 4: 1.1927 Bear channel base drawn off the May 6 high
Those that read into yesterday's bearish GBP/USD close will have been confounded
by the further rally in the pair Friday morning. Markets took out the 200-hma on
the way higher, keeping focus on the 1.2151/52 resistance levels. For bears to
retake control, they need to take out key support at 1.2015, seen as the
near-term bear trigger. A break would confirm a resumption of the downtrend and
open the psychological 1.2000 level ahead of the 1.1841 post-referendum low.

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