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Retracement merely a pause: *RES 3:.....>

CABLE TECHS
CABLE TECHS: Retracement merely a pause:
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2558 High Jul 18
*RES 1: 1.2523 High Sep 16 and just above the 100-dma
*PRICE: 1.2411 @ 08:49 GMT Sep 17
*SUP 1: 1.2327 Low Sep 13
*SUP 2: 1.2284/78 Low Sep 12 / 50-dma
*SUP 3: 1.2234/10 Low Sep 9 and Sep 5
Despite Monday's retracement, GBPUSD maintains a bullish outlook, with 100-dma
building as initial resistance. Momentum remains firm more broadly after
Friday's rally made light work of congestion resistance around last week's
earlier highs at 1.2385, confirming the bull flag formation and improving the
outlook further. The break higher paves the way for a climb towards 1.2558 and
1.2582 next. Support lies at 1.2284, Thursday's low ahead of the 1.2234, Sep 9
low.

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