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CABLE TECHS: Bullish Theme Holding... For Now
*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 High Jul 7
*PRICE: 1.3108 @ 17:03 GMT Jan 8
*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 has been relatively quiet this week following the pullback off the Dec 31
high. The S/T outlook remains bullish following the bounce between Dec 23 - Dec
31. Monday's gains are encouraging, from a candle perspective Monday's price
pattern is a bullish engulfing that signals a possible end to the recent
correction. Last week's gains stalled at 1.3281, 61.8% of the Dec 13 - Dec 23
decline. A breach would open 1.3514. Dec 13 high. Support is at 1.3054.