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Focus is on trendline resistance:.......>

CABLE TECHS
CABLE TECHS: Focus is on trendline resistance:
*RES 4: 1.2653 61.8% retracement of the Jun 25-Jul 9 sell-off
*RES 3: 1.2612 50.0% retrace of Jun 25-Jul 9 sell-off / 21-dma
*RES 2: 1.2583 Trendline resistance off the Jun 25 high
*RES 1: 1.2571/72 High Jul 11 / Trendline resistance
*PRICE: 1.2544 @ 04:222 GMT July 12
*SUP 1: 1.2496 Low Jul 11
*SUP 2: 1.2440 Low Jul 9
*SUP 3: 1.2439 76.4% 1.1841 - 1.4377
*SUP 4: 1.2404 Low Apr 11 2017
GBPUSD yesterday extended the recovery off Monday's ytd low to 1.2571, before
fading. Current gains are viewed as a correction and the focus remains on the
short-term trendline resistance drawn off the Jun 25 high, at 1.2572 today.
While this holds, the downtrend remains in place with the attention on the ytd
1.2440 low and the 76.4% retrace of the Oct 2016-Apr 2018 rally at 1.2439. A
break of 1.2572 would signal a short-term reversal opening 1.2612.

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