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Worst session of the year: *RES 4:......>

CABLE TECHS
CABLE TECHS: Worst session of the year:
*RES 4: 1.2630 61.8% retracement of the decline between Jun 25-Jul 17
*RES 3: 1.2582 High Jul 15
*RES 2: 1.2558 High Jul 18
*RES 1: 1.2517 Trendline resistance drawn off the May 6 high
*PRICE: 1.2232 @ 16:07 GMT July 29
*SUP 1: 1.2212 Intraday Low
*SUP 2: 1.2200 Round number support
*SUP 3: 1.2110 Mar 14 2017 low
*SUP 4: 1.1986 Jan 16 2017 low
Any and all support tested during the Monday session was blown out of the water
as relentless selling of GBP against the USD and EUR led the pair to suffer its
worst session of 2017. A tepid recovery from the 1.2212 low leaves bears firmly
in control, as targets shift lower to 1.22 and 1.2110 below. For any reversal to
take place, bulls must first claw back 1.2399 and 1.2530, but this looks a tall
order in the current environment.

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