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Settles into a range : *RES 3:..........>

CABLE TECHS
CABLE TECHS: Settles into a range :
*RES 3: 1.2811/13 55-DMA and High May 21
*RES 2: 1.2784 High Jun 25 and key short-term bull trigger
*RES 1: 1.2708 100-hma
*PRICE: 1.2671 @ 03:48 GMT June 28
*SUP 1: 1.2673 200-hma
*SUP 2: 1.2633 Low Jun 20
*SUP 3: 1.2570 Former trendline resistance, now support
*SUP 4: 1.2543 Low Jun 19
GBPUSD briefly cleared 1.2700 yesterday, however following a lack of any follow
through drifted back into the range. Tuesday's high of 1.2784 has now been
defined as a key near-term resistance. Despite the recent pullback, technical
conditions remain bullish following last week's trendline breach with momentum
studies still in positive territory. A move above 1.2784 would confirm a
resumption of the uptrend and open 1.2866 and 1.2923. Key support for now lies
around the 200-hma currently at 1.2673 and the June 20 low at 1.2633.

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