Stable, but downtrend intact: *RES 4:...>

CABLE TECHS: Stable, but downtrend intact:

*RES 4: 1.2450/60 Trendline off May 6 high/High Jul 26

*RES 3: 1.2382 Low Jul 17

*RES 2: 1.2228/50 200-hma/High Jul 31

*RES 1: 1.2210 Intraday high

*PRICE: 1.2157 @ 15:24 GMT Aug 06

*SUP 1: 1.2080 Cycle low

*SUP 2: 1.2016 Bear channel base drawn off the May 6 high

*SUP 3: 1.2000 Psychological round number

*SUP 4: 1.1986 Low Jan 16 2017

Recovery efforts have so far remained shallow and keeps the longer-term

downtrend intact. Focus remains on last Thursday's low at 1.2080, ahead of the

psychological 1.20 level and post-referendum lows at 1.1841. The 200-hma at

1.2228 provides the initial point of resistance, while a break of trendline

resistance drawn off the May 6 high at 1.2450 is required to change the

short-term outlook.