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SOUTH AFRICA

Headline CPI Seen Creeping Higher

GBPUSD

Sterling Edging Lower Through European Open

SILVER TECHS

Bull Mode Intact

GOLD TECHS

Bearish Threat Still Present

SCHATZ TECHS
SCHATZ TECHS: (U18) 112.140 Cap Sees Focus Return Lower
*RES 4: 112.210 61.8% Fibo of 112.420/111.860
*RES 3: 112.140 50% Fibo of 112.420/111.860, Jun 21 high
*RES 2: 112.090/100 Congestion area Jun 22-Jul 3
*RES 1: 112.070 Hourly resistance
*PRICE: 112.070 @0918GMT
*SUP 1: 112.000 Jun 20, Jul 4 lows 
*SUP 2: 111.970 Jun 18 low, 61.8% Fibo, 0.1% volatility band
*SUP 3: 111.930 76.4% Fibo of 111.860-112.140
*SUP 4: 111.860 Jun 14 low, 0.2% volatility band
*COMMENTARY* 112.140 has continued to frustrate rallies, having capped the rise
from last month's dip to 111.860. As well as a 50% Fibo retrace, this is also an
equality move from 111.970 to the prior 111.860-112.030 rally. Will need to find
the strength to break this triple resistance area, or risk the chance of a
setback. Meanwhile, 112.060-112.030 support has been lost, leaving 112.000 as
the protection against a 111.970-111.930 drop.