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Extending Rebound: *RES 4: 1.2418 Low...>

CABLE TECHS
CABLE TECHS: Extending Rebound:
*RES 4: 1.2418 Low Jul 23
*RES 3: 1.2382/92 Low Jul 17 / 50-dma
*RES 2: 1.2305 Bear channel resistance drawn off the May 6 high
*RES 1: 1.2280 High Aug 23
*PRICE: 1.2253 @ 16:34 GMT Aug 23
*SUP 1: 1.2210 High Aug 6
*SUP 2: 1.2179 High Aug 20
*SUP 3: 1.2065 Low Aug 20 and key intraday support
*SUP 4: 1.2015 Low Aug12 and bear trigger
GBPUSD maintained and slightly extended recent gains to the highest levels of
the month following positive Brexit headlines. Former key resistance of 1.2210
was breached which could signal a S/T reversal and the start of a correction.
The next hurdle for bulls is the top of the bear channel at 1.2305, drawn off
May 6 highs. A break above here would mark an important bullish development. To
turn the short-term outlook neutral, bears need a close back below 1.2210.

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