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Focus Is On Triangle Resistance *RES....>

CABLE TECHS
CABLE TECHS: Focus Is On Triangle Resistance
*RES 4: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 3: 1.3212 High Jan 7
*RES 2: 1.3173 High Jan 24 and key near-term resistance
*RES 1: 1.3141/42 Intraday high / Triangle Resistance
*PRICE: 1.3117 @ 10:30 GMT Jan 31
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2947 Trendline support drawn off the Sep 3 low
*SUP 3: 1.2905 Low Dec 23
*SUP 4: 1.2824 Low Nov 22
GBPUSD has traded just short of its triangle resistance today at 1.3142. The
pattern started its formation off the Dec 23 low. A failure at 1.3142 would
leave the downside exposed once again and attention would turn to the lows at
1.2955 and the key trendline support at 1.2947. The trendline is drawn off the
Sep 3 low. However, if resistance gives way together with a breach of the Jan 24
high at 1.3173, this would reinforce bullish conditions. 1.3142 is pivotal.

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