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Trendline resistance in view: *RES 4:...>

CABLE TECHS
CABLE TECHS: Trendline resistance in view:
*RES 4: 1.2653    50.0% retracement of the Jun 25-Jul 9 sell-off
*RES 3: 1.2612    50.0% retrace of Jun 25-Jul 9 sell-off / 21-dma
*RES 2: 1.2583    Trendline resistance off the Jun 25 high
*RES 1: 1.2541/53 Intraday high / 200-hma
*PRICE: 1.2536    @ 08:29 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 extends the recovery off Monday's ytd low, back through 1.2540. Gains for
now are viewed as a correction and the focus is on the short-term trendline
resistance drawn off the Jun 25 high 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 highlight a stronger bullish theme.

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