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Heavy following 1.2506 break: *RES 4:.........>

CABLE
CABLE: Heavy following 1.2506 break:
*RES 4: 1.2784 High Jun 25 and key trigger for bulls
*RES 3: 1.2717/35 High Jul 1 / High Jun 28
*RES 2: 1.2626/54 200-hma/21-dma
*RES 1: 1.2600/06 High Jul 3 / High Jun 17
*PRICE: 1.2522 @ 04:10 GMT July 8
*SUP 1: 1.2481 Low Jul 5
*SUP 2: 1.2441 Low Jan 3
*SUP 3: 1.2439 76.4% 1.1841 - 1.4377
*SUP 4: 1.2351 Low April 10 2017
Cable remains in a downtrend reinforced by Friday's break below 1.2506, the low
of Jun 18. This confirms a resumption of the downtrend and paves the way for a
move towards the flash crash lows at 1.2441. This low intersects well with a key
76.4% retracement level at 1.2439, suggesting a potentially strong support area.
With momentum studies also pointing south, Cable appears set to weaken further.
Gains above 1.2600 are needed to ease the bearish threat.

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