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Bearish Threat *RES 4: 1.3212 High......>

CABLE TECHS
CABLE TECHS: Bearish Threat
*RES 4: 1.3212 High Jan 7
*RES 3: 1.3215 High Feb 3 and key S/T resistance
*RES 2: 1.3070 High Feb 5 and key near-term resistance
*RES 1: 1.3011 Former trendline support drawn off the Sep 3 low
*PRICE: 1.2915 @ 05:54 GMT Feb 11
*SUP 1: 1.2872 Low Feb 10
*SUP 2: 1.2824 Low Nov 22
*SUP 3: 1.2769 Low Nov 8
*SUP 4: 1.2736 50% retracement of the Sep 3 - Dec 13 rally
GBPUSD did find some support yesterday, however for now the pair remains
vulnerable following last week's break of trendline support. The trendline is
drawn off the Sep 3 low. The recent move lower has breached 1.2905, Dec 23 low
and a former key support exposing 1.2824. The 100-dma is at 1.2904, highlighting
the importance of limiting weakness below 1.2900 for those looking for a
recovery. For now, bears are in charge. Firm resistance is 1.3011.

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