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Free AccessFaltering: *RES 3: 1.2866 Low Apr 25....>
CABLE TECHS: Faltering:
*RES 3: 1.2866 Low Apr 25
*RES 2: 1.2809/13 50-DMA and High May 21
*RES 1: 1.2784 Intraday high
*PRICE: 1.2719 @ 15:45 GMT June 25
*SUP 1: 1.2700 100-hma
*SUP 2: 1.2668/50 21-dma/200-hma
*SUP 3: 1.2617 Former trendline resistance, now support
Cable failed to extend its run of five consecutive sessions of gains Tuesday,
and will need to clear the 1.2760/70 levels on a closing basis to resume the
recent uptrend. Technical indicators remain bullish following last week's
trendline break, with any move above representing an important technical
development and likely to trigger fresh buying interest towards 1.2813, the May
21 high. A clear breach of 1.2763 would also confirm the bullish divergence
between price and momentum.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.