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Risk Remains Skewed To The Downside.....>

CABLE TECHS
CABLE TECHS: Risk Remains Skewed To The Downside
*RES 4: 1.3013 High Oct 21 and bull trigger
*RES 3: 1.2976 High Oct 31
*RES 2: 1.2946 Trendline resistance drawn off Oct 21 high
*RES 1: 1.2878 High Nov 7
*PRICE: 1.2856 @ 18:03 GMT Nov 11
*SUP 1: 1.2750 Low Oct 17
*SUP 2: 1.2705 200-day MA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2582 High Sep 20 and former breakout point
GBPUSD traded higher Monday, however the near-term risk remains skewed to the
downside following the recent breach of former support at 1.2789, Oct 24 low. A
move lower would allow the steep uptrend that unfolded off the Oct 8 low to
unwind further before bullish activity resumes. Attention is on 1.2705, the
200-DMA and 1.2603, Oct 15 low. Initial resistance is seen at 1.2898, today
intraday high.

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