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Bearish Onslaught Continues *RES 4:.....>

CABLE TECHS
CABLE TECHS: Bearish Onslaught Continues
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28 and yesterday's breakout level
*RES 2: 1.2624 High Feb 13
*RES 1: 1.2425 High Mar 16
*PRICE: 1.2222 @ 17:23 GMT Mar 16
*SUP 1: 1.2195 Low Oct 8, 2019
*SUP 2: 1.2079 Low Sep 4, 2019
*SUP 3: 1.2000 Round number support
*SUP 4: 1.1959 Low Sep 3 and key support
GBPUSD remains under pressure following last week's sharp sell-off and the break
of key support at 1.2726, Feb 28 low. The move confirmed a resumption of the
downleg that has been in place since Dec 13. The break paves the way for a test
of 1.2195 next, Oct 8 2019 low. A deeper sell-off would open 1.2079, Sep 4 2019
low ahead of the psychological 1.2000 level. The breakout level at 1.2726 is now
a key resistance. Initial firm resistance is 1.2624.

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