Broader downtrend intact: *RES 4:.......>

CABLE TECHS: Broader downtrend intact:

*RES 4: 1.2689 76.4% retracement of the decline between Jun 25-Jul 17

*RES 3: 1.2630 61.8% retracement of the decline between Jun 25-Jul 17

*RES 2: 1.2600 High Jul 3

*RES 1: 1.2558 High Jul 18

*PRICE: 1.2546 @ 04:13 GMT July 19

*SUP 1: 1.2422 Low Jul 18

*SUP 2: 1.2382 Low Jul 17 / Multi-year low

*SUP 3: 1.2352/51 1.618% swing of 1.2440-1.2582 / April 2017 low

*SUP 4: 1.2272 3% Lower Bollinger Band

The GBPUSD recovery gained traction through yesterday's session on solid UK

Retail Sales data and a broadly weaker USD. Despite these recent gains, Cable

remains locked in its longer-term downtrend and will need a positive break and

close above 1.2582 to negate the current bearish threat. The Jul 18 low of

1.2427 provides near-term support, ahead of the multi-year lows at 1.2382.