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Free AccessPushing Higher *RES 4: 1.3284 High......>
CABLE TECHS: Pushing Higher
*RES 4: 1.3284 High Dec 31
*RES 3: 1.3215 High Feb 3
*RES 2: 1.3070 High Feb 13
*RES 1: 1.3049 High Mar 6
*PRICE: 1.3012 @ 16:54 GMT Mar 6
*SUP 1: 1.2861 Low Mar 5
*SUP 2: 1.2726 Low Feb 28 and key support
*SUP 3: 1.2705 200-dma
*SUP 4: 1.2632 2.0% 10-dma envelope
The week's GBPUSD recovery remains in place. The move higher Thursday changed
the S/T outlook, resulting in the pair topping important near-term resistance at
1.3018, the Feb 25 high. The break of this level represents an important bullish
break, clearing the way for a climb towards 1.3070, Feb 13 high. Bears need a
break of last Friday's 1.2726 low to reinstate a move lower. Initial support is
at 1.2861.
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Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.