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Bulls Maintain Their Hold *RES 4:.......>

CABLE TECHS: Bulls Maintain Their Hold
*RES 4: 1.2838 61.8% retracement of Mar - Sep Decline
*RES 3: 1.2784 High Jun 25
*RES 2: 1.2713 200-DMA
*RES 1: 1.2707 High Oct 11
*PRICE: 1.2620 @ 04:20 GMT Oct 15
*SUP 1: 1.2516 Low Oct 14 / 38.2% retracement of Oct 8 - Oct 11 rally
*SUP 2: 1.2409 Low Oct 11
*SUP 3: 1.2318 76.4% retracement of Oct 8 - Oct 11 rally
*SUP 4: 1.2195 Low Oct 8
GBPUSD recovered off the day low yesterday to maintain the bullish theme
following last weeks sharp rally. The breach Friday of former resistance at
1.2582 is significant as it confirms a broader bullish price structure and
shifts the medium-term outlook in favour of the bull camp, should the rally be
sustained. The pair managed a high print of 1.2707 last week that marks initial
intraday resistance. Scope is seen for a climb towards 1.2784 next.

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