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Locked in a downtrend: *RES 4:..........>

CABLE TECHS: Locked in a downtrend:
*RES 4: 1.2428/60 Trendline off May 6 high/High Jul 26
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2250 High Jul 31
*RES 1: 1.2210 High Aug 6
*PRICE: 1.2165 @ 08:27 GMT Aug 08
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2004 Bear channel base drawn off the May 6 high
*SUP 3: 1.2000 Psychological round number
*SUP 4: 1.1986 Low Jan 16 2017
Gains above 1.2205/10 have so far proved hard to overcome, giving more
importance to this level. Failure to break keeps the longer-term downtrend
intact, opening a return to Thursday's low at 1.2080, ahead of the psychological
1.20 level and post-referendum lows at 1.1841. Bulls need to clear trendline
resistance drawn off the May 6 high at 1.2428 to change the short-term outlook.

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