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Still trading below trendline...........>

CABLE TECHS
CABLE TECHS: Still trading below trendline resistance:
*RES 4: 1.2653 50.0% retracement of the Jun 25-Jul 9 sell-off
*RES 3: 1.2612/17 50.0% retrace of Jun 25-Jul 9 sell-off / 21-dma
*RES 2: 1.2557/83 200-hma / Trendline resistance off the Jun 25 high
*RES 1: 1.2540 High Jul 8
*PRICE: 1.2534 @ 04:34 GMT July 11
*SUP 1: 1.2496 Intraday low
*SUP 2: 1.2440 Low Jul 9
*SUP 3: 1.2439 76.4% 1.1841 - 1.4377
*SUP 4: 1.2404 Low Apr 11 2017
GBPUSD followed through on yesterday's bounce in Asia. Gains for now are viewed
as a correction and the focus is on the short-term trendline resistance drawn
off the high of Jun 25 that intersects at 1.2583 today. While this holds, the
downtrend remains in place with the attention on this weeks 1.2440 low and the
76.4% retrace of the Oct 2016-Apr 2018 rally at 1.2439. A break above 1.2583 is
required to instead highlight a stronger bullish theme.

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