Ahead of today's BoE monetary policy....>

CABLE TECHS: Ahead of today's BoE monetary policy decision, here are several

chart considerations worth noting in Cable:

- A triangle formation has developed. In terms of signaling a likely direction,

the pattern would suggest a break lower. Note though that triangles are usually

made up of 5-legs. This means there is a possibility of a 5th leg up before we

see prices head down. The triangle top is at 1.3148.

- There is an important trendline support at 1.2938 today. This trendline is

drawn off the Sep 3 low. A break would reinforce a bearish theme.

- An additional key support level lies at 1.2905, the Dec 23 low. If cleared

this would confirm a resumption of the sell-off that began on Dec 13.

- On the bullish side of things, Cable would firstly need to hold above the

trendline and secondly, attempt a break of 1.3105. The key broader based

resistance for bulls is seen at 1.3173, Jan 24 high.

- Watch trendline support!