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Dec 07

TECHNICAL ANALYSIS BY NSFX 07.12.2014

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High:  Low: 

Cable made a new 2014 low and did not rebound to regain  1.56. At the moment the pair is not oversold and could reach new lows at 1.55 and 1.5250. At 1.5 many bearish traders would close their short positions. A breakout of the supply line that links lower highs that was generated  the 15th of July could lift the rate to 1.61 and then if momentum trading will appear, the 200SMA should be the most relevant resistance.

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