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Gravitates Back to the 200-DMA *RES.....>

CABLE TECHS: Gravitates Back to the 200-DMA
*RES 4: 1.2866 Low April 25
*RES 3: 1.2838 61.8% retracement of Mar - Sep Decline
*RES 2: 1.2813 High May 21
*RES 1: 1.2800 High Oct 15
*PRICE: 1.2715 @ 04:38 GMT Oct 16
*SUP 1: 1.2603 Low Oct 15
*SUP 2: 1.2516 Low Oct 14
*SUP 3: 1.2413 100-DMA
*SUP 4: 1.2409 Low Oct 11
GBPUSD was firmer again yesterday as fresh Brexit headlines gave bulls further
impetus to clear the 200-dma resistance, a potentially significant milestone,
although it has gravitated back towards this 1.2713 level today. If we can
remain above this level, potential is for a climb towards the late April low of
1.2866. Momentum studies, monitoring the RSI is yet to indicate an overbought
conditions. This reinforces the bullish theme. 1.2838 is the first objective.

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