Bullish Momentum Building *RES 3:.......>

CABLE TECHS: Bullish Momentum Building

*RES 3: 1.2578 100-dma

*RES 2: 1.2516 High May 4

*RES 1: 1.2488 High Jun 01

*PRICE: 1.2463 @ 16:45 BST Jun 1

*SUP 1: 1.2206 Low May 27

*SUP 2: 1.2162 Low May 22

*SUP 3: 1.2076 Low May 18 and bear trigger

GBPUSD rallied nicely throughout the Monday session, traded higher across Asia

and well into the NY close. This puts markets on course to close above the

50-day EMA at 1.2372, which adds to the upside case alongside the break above

key resistance at 1.2467, the May 8 high. This brings the 100-dma at 1.2578 into

contention. If the pair turns lower from here though, the recent bearish focus

will come back into play. A break of 1.2162, May 22 low would open 1.2076, May

18 low.