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Underlying bearish outlook: *RES 4:.....>

CABLE TECHS
CABLE TECHS: Underlying bearish outlook:
*RES 4: 1.2439/60 Trendline off May 6 high/High Jul 26
*RES 3: 1.2382 Low Jul 17
*RES 2: 1.2250 High Jul 31
*RES 1: 1.2194/2210 200-hma/ High Aug 6
*PRICE: 1.2153 @ 08:54 GMT Aug 07
*SUP 1: 1.2080 Cycle low
*SUP 2: 1.2004 Bear channel base drawn off the May 6 high
*SUP 3: 1.2000 Psychological round number
*SUP 4: 1.1986 Low Jan 16 2017
Upside gains have so far proved hard to overcome with focus on a break of the
1.2205/10 area from a series of previous hourly highs. Failure to break keeps
the longer-term downtrend intact, opening a return to Thursday's low at 1.2080,
ahead of the psychological 1.20 level and post-referendum lows at 1.1841. Bulls
need to clear trendline resistance drawn off the May 6 high at 1.2439 to change
the short-term outlook.

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