Bullish breakout on the cards: *RES.....>

CABLE TECHS: Bullish breakout on the cards:

*RES 4: 1.2418 Low Jul 23

*RES 3: 1.2399 High Jul 29

*RES 2: 1.2381/82 50-dma / Low Jul 17

*RES 1: 1.2310 Intraday high

*PRICE: 1.2287 @ 15:38 GMT Aug 27

*SUP 1: 1.2195 Low Aug 23

*SUP 2: 1.2179 High Aug 20

*SUP 3: 1.2065 Low Aug 20 and key near term support

*SUP 4: 1.2015 Low Aug12 and bear trigger

The pair topped the upper end of the bear trend channel drawn from the May 6

high at 1.2283 Tuesday, signalling an increased risk of a bullish breakout.

Momentum studies remain in bull mode and a move higher here would open 1.2382

and the 1.2400 handle initially. A failure to sustain, however, would instead

result in the trend adopting a more neutral tone and even perhaps a resumption

of bearish pressure.