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Bearish Focus *RES 4: 1.2726 Low Feb....>

CABLE TECHS
CABLE TECHS: Bearish Focus
*RES 4: 1.2726 Low Feb 28
*RES 3: 1.2648 High Apr 14 and the bull trigger
*RES 2: 1.2529 High Apr 16 and key intraday resistance
*RES 1: 1.2448 High Apr 21
*PRICE: 1.2351 @ 06:00 BST Apr 24
*SUP 1: 1.2248 Low Apr 21
*SUP 2: 1.2199 2.0% 10-dma envelope
*SUP 3: 1.2166/67 Low Apr 7/Apr 21 and key support
*SUP 4: 1.2132 Low Mar 27
GBPUSD is unchanged and continues to hold below Tuesday's opening levels. The
recent pullback from 1.2648, Apr 14 high signalled a concern for bulls while
Wednesday's break of 1.2408 low, Apr 16 low has essentially confirmed a S/T
reversal. The focus is on 1.2166, Apr 7 low. A break would suggest scope for a
deeper pullback towards 1.2030, a Fibonacci retracement. Initial resistance is
at Tuesday's 1.2448 high. The bear trigger is 1.2248.

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