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Downtrend remains intact: *RES 3:.......>

CABLE TECHS
CABLE TECHS: Downtrend remains intact:
*RES 3: 1.2438/60 Trendline off May 6 high/High Jul 26
*RES 2: 1.2382 Low Jul 17
*RES 2: 1.2250/67 High Jul 31/200-hma
*RES 1: 1.2188 Intraday high
*PRICE: 1.2131 @ 08:44 GMT Aug 05
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2038 Bear channel base drawn off the high of May 6
*SUP 3: 1.2000 Psychological round number
*SUP 4: 1.1986 Low Jan 16 2017
GBPUSD based ahead of 1.2100, before improved UK Services PMI squeezed to
1.2140. Despite this, the underlying downtrend remains intact with immediate
focus on last Thursday's low at 1.2080, ahead of the psychological 1.20 level
and post-referendum lows at 1.1841. The 200-hma provides resistance at 1.2267,
while a break of trendline resistance drawn off the May 6 high at 1.2438 is
required to change the short-term outlook.

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