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Trading Just Ahead Of The Range Base....>

CABLE TECHS
CABLE TECHS: Trading Just Ahead Of The Range Base
*RES 4: 1.2726 Low Feb 28
*RES 3: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger
*RES 2: 1.2516 High May 4
*RES 1: 1.2467 High May 20
*PRICE: 1.2284 @ 10:35 BST May 13
*SUP 1: 1.2248 Low Apr 21 and the bear trigger
*SUP 2: 1.2166 Low Apr 7 and a key support
*SUP 3: 1.2030 50% retracement of the Mar 20 - Apr 14 rally
*SUP 4: 1.2000 Round number support
GBPUSD is softer. Price action since mid April has defined two key directional
triggers, resistance at 1.2648, Apr 14 high and a key support at 1.2248, May 7
low. A break of 1.2648 is required to confirm a resumption of the uptrend that
started on Mar 20 and open 1.2726, Feb 28 low initially. On the downside, a move
through 1.2248 would instead highlight a reversal and expose 1.2166 and below.
Cable is currently edging closer to the range base.

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