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Extends The Recent Pullback *RES 4:.....>

CABLE TECHS
CABLE TECHS: Extends The Recent Pullback
*RES 4: 1.3338 High Dec 17
*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 2: 1.3212 High Jan 7
*RES 1: 1.3173 High Jan 24
*PRICE: 1.2994 @ 16:46 GMT Jan 28
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2920/05 Trendline support drawn off the Sep 3 low / Low Dec 23
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD is lower again Tuesday. Last week's gains stalled at 1.3173 on Jan 24
however, despite the current pullback the short-term focus is on the potential
bullish significance of the recent break of 1.3118, Jan 17 high. A rebound would
see bulls target 1.3212 next ahead of the 1.3281 Fibonacci resistance area. A
reversal lower still remains a possibility though. The initial trigger for
weakness is 1.2955, the Jan 14 low. Trendline support is at 1.2920.

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