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CABLE TECHS: 1.3013 Marks The Key Resistance
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2921 @ 16:45 GMT Nov 20
*SUP 1: 1.2868 Low Nov 15
*SUP 2: 1.2816 Low Nov 12
*SUP 3: 1.2769 Low Nov 8 and bear trigger
*SUP 4: 1.2704 200-day MA
Despite pulling back Tuesday and for much of the Wednesday session, GBPUSD
maintains a firmer outlook following Monday's gains that resulted in a break of
resistance at 1.2921, a trendline drawn off the Oct 21 high. This break confirms
a bull flag formation since Oct 21, signalling a resumption of the uptrend that
began in early September. Attention is on 1.3013, Oct 21 high and the bull
trigger. Initial support is 1.2868, Nov 15 low. A break would concern bulls.