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

CABLE TECHS: Bearish Threat Still Present *RES 4: 1.2516 High May 4 *RES 3:

1.2467 High May 20 and key resistance *RES 2: 1.2340 High May 13 *RES 1:

1.2292/96 20-day EMA / High May 19 *PRICE: 1.2182 @ 05:47 BST May 25 *SUP 1:

1.2162 Low May 22 *SUP 2: 1.2076 Low May 18 and bear trigger *SUP 3: 1.2030 50%

retracement of the Mar 20 - Apr 14 rally *SUP 4: 1.2000 Round number support The

Cable outlook is unchanged. It remains bearish and recent gains have likely been

a correction. A bearish theme follows the recent break of support at 1.2166, Apr

7 low. This confirmed a range breakout and signals scope for a deeper decline

towards 1.2030 next, and the psychological 1.2000 level. A break of 1.2000 would

open 1.1884, 61.8% of the Mar 20 - Apr 14 rally. 1.2292/96 is the next

resistance, the 20-day EMA and May 19 high.