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Bearish Threat Dominates *RES 4:........>

CABLE TECHS
CABLE TECHS: Bearish Threat Dominates
*RES 4: 1.3422 High Dec 16
*RES 3: 1.3338 High Dec 17
*RES 2: 1.3134 High Dec 18 and key near-term resistance
*RES 1: 1.3032 High Dec 23
*PRICE: 1.2995 @ 05:44 GMT Dec 27
*SUP 1: 1.2905 Low Dec 23
*SUP 2: 1.2810 2.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8 and key support
GBPUSD is trading off recent lows. The outlook remains bearish following last
week's sharp post election 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 the 1.2800 level. Note, the
next key supports lie at 1.2824, Nov 22 low and 1.2769, Nov 8 low. Initial firm
resistance is at 1.3134, Dec 18 high.

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