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Still Testing Former Trendline..........>

CABLE TECHS
CABLE TECHS: Still Testing Former Trendline Support-Now-Resistance
*RES 4: 1.3212 High Jan 7
*RES 3: 1.3215 High Feb 3 and key S/T resistance
*RES 2: 1.3085 61.8% retracement of the Feb 3 - feb 10 decline
*RES 1: 1.3065/70 50-dma / High Feb 5 and 13
*PRICE: 1.2998 @ 04:45 GMT Feb 18
*SUP 1: 1.2944 Low Feb 13
*SUP 2: 1.2872 Low Feb 10 and key bear trigger
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBPUSD continues to pressure the former trendline drawn off the Sep 3 low that
was breached on Feb 6. A break above last Thursday's high of 1.3070 would be
encouraging for bulls and would signal scope for an extension towards 1.3215,
the Feb 3 high and a key near-term resistance. A failure though to hold onto
recent gains would again signal a bearish threat and expose 1.2872, Feb 10 low.
A move through this support opens 1.2824, the Nov 22 low.

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