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Free AccessRemains vulnerable: *RES 4: 1.2784......>
CABLE TECHS: Remains vulnerable:
*RES 4: 1.2784 High Jun 25 and key trigger for bulls
*RES 3: 1.2717/35 High Jul 1 / High Jun 28
*RES 2: 1.2634/71 100-hma/200-hma
*RES 1: 1.2600/06 High Jul 3 / High Jun 17
*PRICE: 1.2582 @ 04:17 GMT July 4
*SUP 1: 1.2557 Low Jul 3
*SUP 2: 1.2543/40 Low Jun 19/Lower 2% Bollinger Band
*SUP 3: 1.2506 Low Jun 18
*SUP 4: 1.2441 Low Jan 3
Cable remains under pressure following this weeks selling pressure and the risk
is for further downside. The focus is on the Jun 19 low of 1.2543 with key
support at 1.2506, the Jun 18 low also exposed. A break of this latter level
would confirm a resumption of the bear trend and also negate the recent bullish
signal marked by the trendline break on Jun 20. On the upside, initial
resistance is seen at the 1.2634/71 zone.
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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.