Downtrend remains intact: *RES 4:.......>

CABLE TECHS: Downtrend remains intact:

*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: 1.2539 Trendline resistance drawn off the May 6 high

*PRICE: 1.2477 @ 03:50 GMT July 25

*SUP 1: 1.2418 Low Jul 23

*SUP 2: 1.2382 Low Jul 17 / Multi-year low

*SUP 3: 1.2352/51 1.618% swing of 1.2440-1.2582 / April 2017 low

*SUP 4: 1.2300 Round number support

Cable remains within its downtrend and key support at 1.2382 , the low of Jul 17

also remains exposed. A break of this support would confirm a resumption of the

downtrend and extend the price sequence of lower lows and lower highs. Bulls

need to recover 1.2558, before challenging 1.2582, the high of Jul 15. A break

above this zone is required to signal a reversal. Note, this would also result

in a trendline break drawn off the May 6 high.