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Losses keep coming: *RES 3: 1.2582......>

CABLE TECHS
CABLE TECHS: Losses keep coming:
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2558 High Jul 18
*RES 1: 1.2517 Trendline resistance drawn off the May 6 high
*PRICE: 1.2336 @ 08:28 GMT July 29
*SUP 1: 1.2327 Intraday Low
*SUP 2: 1.2322 1.0% 10-dma envelope
*SUP 3: 1.2300 Round number support
Cable has traded to fresh trend lows overnight breaching the low of Jul 17 at
1.2382. This marks an extension of the price sequence of lower lows and lower
highs that still dominates. The break lower opens the 1.23 handle, the outlook
materially worsening on a close below there. Bulls need to break above 1.2558
and 1.2582 to offset the bearish threat and instead signal a reversal. This
would also result in a break of trendline resistance drawn off the May 6 high
and currently at 1.2517.

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