Bearish Threat Still Present *RES 4:....>

CABLE TECHS: Bearish Threat Still Present

*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: 1.2003 High Feb 6

*PRICE: 1.2915 @ 16:38 GMT Feb 10

*SUP 1: 1.2872 Intraday low

*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 has found some support for now but remains vulnerable following last

week's break of trendline support. The trendline is drawn off the Sep 3 low and

had been under pressure most of the week. The move lower has breached 1.2905,

Dec 23 low and a former key support exposing 1.2824. The 100-dma is at 1.2899,

highlighting the importance of limited weakness below 1.2900 for those looking

for a recovery. For now, bears are in charge. Firm resistance is 1.3070.