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Must Sustain Bounce *RES 3: 1.2416......>

CABLE TECHS
CABLE TECHS: Must Sustain Bounce
*RES 3: 1.2416 100-day MA
*RES 2: 1.2413 High Oct 3
*RES 1: 1.2357 High Oct 4
*PRICE: 1.2256 @ 08:33 GMT Oct 9
*SUP 1: 1.2195 Low Oct 8
*SUP 2: 1.2172 1.0% 10-dma envelope
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
GBPUSD traded lower Tuesday making light work of the 50-dma support as dire
Brexit news weighed. However, highlighting the continued headline risk
sensitivity, GBP/USD bounced on reports the EU could make further concessions.
The ability of the pair to sustain this bounce remains to be seen. The recent
sell-off threatens the modestly positive outlook with the 1.2197 Fibonacci
retracement under pressure. An extension lower opens the 10-dma envelope at
1.2181 and the low 1.21's. For bulls to regain control, upside targets have
shifted to 1.2357 and 1.2413 and need to be cleared to expose 1.2582.

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