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Still heavy: *RES 4: 1.2399 High Jul....>

CABLE TECHS
CABLE TECHS: Still heavy:
*RES 4: 1.2399 High Jul 29
*RES 3: 1.2336/82 50-dma / Low Jul 17
*RES 2: 1.2310 High Aug 27 and key resistance
*RES 1: 1.2227 Bull channel top drawn off the May 6 high
*PRICE: 1.2034 @ 04:20 GMT Sep 3
*SUP 1: 1.2015 Low Aug12 and bear trigger
*SUP 2: 1.1950 10-dma 2% envelope
*SUP 3: 1.1841 Post-Brexit Referendum Low
*SUP 4: 1.1800 Bear channel base drawn off the May 6 high
GBPUSD continues to weaken approaching key support at 1.2015, Aug 12 low. The
latest sell-off follows the recent failure at the bear channel resistance drawn
off the May 6 high. A break of 1.2015 would open the psychological 1.2000
support, with volatility bands the only support of note ahead of 1.1841. A break
above last Tuesday's 1.2310 high is needed to reinstate a bullish theme. The
bear channel top is at 1.2227, also an important resistance.

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