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Key Support Lies At 1.2197 *RES 4:......>

CABLE TECHS
CABLE TECHS: Key Support Lies At 1.2197
*RES 4: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 3: 1.2503 High Sep 24
*RES 2: 1.2433 100-day MA
*RES 1: 1.2413 High Oct 3
*PRICE: 1.2337 @ 09:08 GMT Oct 4
*SUP 1: 1.2207 Low Oct1
*SUP 2: 1.2197 61.8% Sep 3 - Sep 20 rise
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
*SUP 4: 1.2079 Low Sep 4
GBPUSD traded in a volatile manner yesterday and did recover, to narrow the gap
with the 100-dma at 1.2433. The pair appears more constructive for now having
held above Tuesday's low and importantly 1.2197 this week. 1.2197 marks the
61.8% retracement of Sep 3 - Sep 20 rise and is an important pivot point. While
it holds, the potential for a stronger recovery remains. A clear break of the
50-dma and 1.2197 support however would see bearish pressure resume.

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