Approaching Key Resistance *RES 4:......>

CABLE TECHS: Approaching Key Resistance

*RES 4: 1.2849 High Mar 12

*RES 3: 1.2726 Low Feb 28

*RES 2: 1.2648 High Apr 14 and key resistance

*RES 1: 1.2611 Intraday high

*PRICE: 1.2583 @ 05:37 BST Jun 3

*SUP 1: 1.2479 Low Jun 2

*SUP 2: 1.2322 Low Jun 1

*SUP 3: 1.2206 Low May 27

*SUP 4: 1.2162 Low May 22 and a key near-term support

GBPUSD continues to push higher. Recent gains have resulted in a break and close

above the 50-day EMA. This has strengthened the upside case, alongside the break

of resistance at 1.2467, May 8 high. With the 100-dma also breached, attention

turns to 1.2648, Apr 14 high and a key resistance. If the pair turns lower from

here though, the recent bearish focus will come back into play. Firm support

lies at 1.2322, the Monday low.