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Focus Is On 1.2789 Support *RES 4:......>

CABLE TECHS
CABLE TECHS: Focus Is On 1.2789 Support
*RES 4: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 3: 1.3013 High Oct 21 and bull trigger
*RES 2: 1.2976 High Oct 31
*RES 1: 1.2948 Trendline resistance drawn off Oct 21 high
*PRICE: 1.2815 @ 06:32 GMT Nov 8
*SUP 1: 1.2789 Low Oct 24 and key near-term support
*SUP 2: 1.2750 Low Oct 17
*SUP 3: 1.2707 200-day MA
*SUP 4: 1.2603 Low Oct 15
GBPUSD traded lower yesterday as the USD rallied. From a directional
perspective, there remains the possibility of a deeper sell-off in Cable before
stronger bullish activity resumes, as the uptrend since Oct 8 has been steep.
The trigger for an extension lower is 1.2789, Oct 24 low. This would open
1.2707, the 200-DMA and 1.2603, Oct 15 low. On the upside for bulls to get
excited again, prices need to trade through the bull trigger at 1.3013.

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