Bearish Theme Firmly In Place *RES 4:...>

CABLE TECHS: Bearish Theme Firmly In Place

*RES 4: 1.3514 High Dec 13 and primary resistance

*RES 3:1.3422 High Dec 16

*RES 2: 1.3338 High Dec 17

*RES 1: 1.3134 High Dec 18

*PRICE: 1.2941 @ 05:45 GMT Dec 24

*SUP 1: 1.2905 Low Dec 23

*SUP 2: 1.2900 Round number Support

*SUP 3: 1.2870 2.0% 10-dma envelope

*SUP 4: 1.2824 Low Nov 22

GBPUSD weakness resumed Monday despite quieter markets elsewhere. The outlook

remains bearish following last week's sharp reversal. Price has traded below the

key bullish breakout level of 1.3013, Oct 21 high paving the way for weakness

towards 1.2900 and the 2.0% 10-dma envelope line and potentially lower still.

Note, the next key supports lie at 1.2824, Nov 22 low and 1.2769, Nov 8 low.

Initial resistance is at 1.3134, Dec 18 high.