Bulls given breathing room: *RES 3:.....>

CABLE TECHS: Bulls given breathing room:

*RES 3: 1.2813 High May 21

*RES 2: 1.2763 High Jun 7 and key resistance

*RES 1: 1.2687 Trendline resistance drawn off the May 6 high

*PRICE: 1.2659 @ 19:02 GMT June 19

*SUP 1: 1.2500 Round number support

*SUP 2: 1.2476 Low Dec 12, 2018

*SUP 3: 1.2407 Low Jan 3 and major support

Pair was in recovery mode throughout the Wednesday session, receiving a further

boost from the dropping greenback at the tail-end of the day. Despite the Fed

influence, the GBP firming throughout, but the lack of a break above 1.2687 does

little to damage the medium-term outlook. Bearish conditions remain in place and

the focus is on the potential for a move towards 1.2500 with the Jan 3 low of

1.2407 also coming into view. Potential bullish divergence between price and

momentum on the daily frequency is developing, however this does not represent a

significant threat to bears at this stage.