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Longer-term bearish outlook remains:....>

CABLE TECHS
CABLE TECHS: Longer-term bearish outlook remains:
*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: 1.2162 @ 05:27 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 fleeting, giving more importance to
this area. 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.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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