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Remains Vulnerable Near-Term *RES 4:....>

CABLE TECHS
CABLE TECHS: Remains Vulnerable Near-Term
*RES 4: 1.3215 High Feb 3
*RES 3: 1.3070 High Feb 13
*RES 2: 1.3018/23 High Feb 25 / 50-dma
*RES 1: 1.2946 High Feb 27
*PRICE: 1.2826 @ 17:24 GMT Mar 3
*SUP 1: 1.2726 Low Feb 28
*SUP 2: 1.2701 200-dma
*SUP 3: 1.2648 2.0% 10-dma envelope
*SUP 4: 1.2603 Low Oct 15
GBPUSD remains vulnerable. The pair failed last week to build on the recovery
off the Feb 20 low of 1.2849. The break of this support has instead reinstated a
bearish theme with Cable likely to edge lower near-term. Price tested the 1.2736
retracement Friday, 50.0% of the Sep - Dec rally. Potential is seen for a move
towards 1.2701, the 200 dma. If this is cleared, it would open 1.2603 and
1.2553. Key short-term resistance is seen at 1.3018, Feb 25 high.

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