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Holds Its Gains *RES 4: 1.3338 High.....>

CABLE TECHS
CABLE TECHS: Holds Its Gains
*RES 4: 1.3338 High Dec 17
*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 2: 1.3212 High Jan 7
*RES 1: 1.3153 High Jan 22
*PRICE: 1.3108 @ 16:34 GMT Jan 23
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2905 Low Dec 23 and key support
*SUP 3: 1.2892 Trendline support drawn off the Sep 3 low
*SUP 4: 1.2824 Low Nov 22
GBPUSD had a stellar session Wednesday, extending gains seen earlier in the week
and remains firm. The break of 1.3118, Jan 17 high is bullish and threatens
recent bearish views that have dominated since Dec 31. Bulls target 1.3212 next
ahead of the 1.3281 Fibonacci resistance area. A reversal lower is still
possible, however. The initial trigger for weakness is 1.2955, the Jan 14 low.
Trendline support, drawn off the Sep 3 low intersects at 1.2892.

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