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Not enough to buck downtrend: *RES 4:...>

CABLE TECHS: Not enough to buck downtrend:
*RES 4: 1.2813 High May 21
*RES 3: 1.2763 High Jun 7 and key resistance
*RES 2: 1.2695 Trendline resistance drawn off the May 6 high
*RES 1: 1.2559 Low May 31 and recent breakout point
*PRICE: 1.2542 @ 15:50 GMT June 18
*SUP 1: 1.2500 Round number support
*SUP 2: 1.2476 Low Dec 12, 2018
*SUP 3: 1.2407 Low Jan 3 and major support
*SUP 4: 1.2400 Round number support
The pair staged a modest recovery ahead of the close, but this will have been
insufficient to materially change the firm downward trend. GBPUSD selling
pressure continues to dominate below the May low of 1.2559. This opens a move to
1.2500 with the Jan 3 low of 1.2407 also coming into view. Potential bullish
divergence between price and momentum on the daily frequency is developing,
however this does not represent a significant threat to bears at this stage.

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