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Sep 04

TECHNICAL ANALYSIS BY NSFX 04.09.2013

By:admin

High:  Low: 

The recent GBP-performance has been impressive across the board. Cable has this week managed to gap higher on the opening of the week and stay elevated, pushing above the 50% Fibo retracement in the 2013 high-low wave at 1.5560. A close above would set up the market for a test of trend resistance at 1.5675 before 1.5717-area at August highs. Support is clearly defined by the 200-day SMA coming in at 1.5480 and trend support from 2013 highs around 1.55 could also show some bids.

R3
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R1
S1
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