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Downtrend extends: *RES 4: 1.2630.......>

CABLE TECHS: Downtrend extends:
*RES 4: 1.2630 61.8% retracement of the decline between Jun 25-Jul 17
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2558 High Jul 18
*RES 1: 1.2517 Trendline resistance drawn off the May 6 high
*PRICE: 1.2364 @ 03:58 GMT July 29
*SUP 1: 1.2364 Intraday Low
*SUP 2: 1.2352/51 1.618% swing of 1.2440-1.2582 / April 2017 low
*SUP 3: 1.2335 Low of week beginning Mar 24, 2017
*SUP 4: 1.2300 Round number support
Cable has traded to fresh trend lows overnight breaching the low of Jul 17 at
1.2382. This marks an extension of the price sequence of lower lows and lower
highs that still dominates. The break lower opens 1.2352, a Fibonacci swing
projection. Bulls need to break above 1.2558 and 1.2582 to offset the bearish
threat and instead signal a reversal. This would also result in a break of
trendline resistance drawn off the May 6 high and currently at 1.2517.

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