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Still Looking For A Base *RES 4:........>

CABLE TECHS
CABLE TECHS: Still Looking For A Base
*RES 4: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 3: 1.3212 High Jan 7
*RES 2: 1.3173 High Jan 24
*RES 1: 1.3105 High Jan 27
*PRICE: 1.3013 @ 20:35 GMT Jan 29
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2929/05 Trendline support drawn off the Sep 3 low / Low Dec 23
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD traded lower yesterday but did find support at its low. Last week's gains
stalled at 1.3173 on Jan 24 however, despite the recent pullback the S/T focus
is on the potential bullish significance of the recent break of 1.3118, Jan 17
high. A rebound would see bulls target 1.3212 next ahead of the 1.3281 Fibonacci
resistance area. A reversal lower is still possible though. The initial trigger
for weakness is 1.2955, the Jan 14 low. Trendline support is at 1.2929.

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