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Bullish Engulfing *RES 4: 1.3422 High...>

CABLE TECHS
CABLE TECHS: Bullish Engulfing
*RES 4: 1.3422 High Dec 16
*RES 3: 1.3338 High Dec 17
*RES 2: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 1: 1.3212 Intraday high
*PRICE: 1.3131 @ 17:19 GMT Jan 7
*SUP 1: 1.3054 Low Jan 3
*SUP 2: 1.2969 Low Dec 27
*SUP 3: 1.2905 Low Dec 23 and key support
*SUP 4: 1.2824 Low Nov 22
GBPUSD ended last week's session on a softer note. Despite the pullback, the S/T
outlook is bullish following the bounce between Dec 23 - Dec 31. Monday's gains
are encouraging, from a candle perspective Monday's formation is a bullish
engulfing reversal that signals a possible end to the previous 3-day pullback.
Recent highs stalled at 1.3281, 61.8% of the Dec 13 - Dec 23 decline. A breach
would open 1.3514. Dec 13 high. Initial support is at 1.3054.

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