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What to make of the long-term Cable.....>

CABLE TECHS
CABLE TECHS: What to make of the long-term Cable chart?:
- The monthly chart clearly highlights that we are close to an important
crossroads.
- 1.2000 is pivotal, what would a break of this level imply?
- The failure at the 1.4000 level in Q1/Q2 2018 now appears to have been an
ominous warning of things to come.
- Levels close to 1.4000 provided support in 1993, during 2000-2002 and 2009.
- Eventually a clear break was confirmed in 2016.
- Importantly, the 1.4000 handle provided resistance in 2018, reinforcing the
potential long-term bearish implications of the break in 2016.
- The next test will be 1.2000.
- A clear break would leave the 1985 low of 1.0520 exposed, and even parity!
- Will it hold? See Cable monthly chart:
https://emedia.marketnews.com/marketnewsintl/GBP1703.PNG

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