Bumps Lower Once More *RES 4: 1.3338....>

CABLE TECHS: Bumps Lower Once More

*RES 4: 1.3338 High Dec 17

*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high

*RES 2: 1.3212 High Jan 7

*RES 1: 1.3153 High Jan 22

*PRICE: 1.3067 @ 16:15 GMT Jan 24

*SUP 1: 1.2955 Low Jan 14

*SUP 2: 1.2905 Low Dec 23 and key support

*SUP 3: 1.2901 Trendline support drawn off the Sep 3 low

*SUP 4: 1.2824 Low Nov 22

Recent GBPUSD gains stalled further Friday, resuming the downside trend into the

close. More positively, however, the break of 1.3118, Jan 17 high is bullish and

threatens recent bearish views that have dominated since Dec 31. Bulls target

1.3212 next ahead of the 1.3281 Fibonacci resistance area. A reversal lower

remains a possibility though. The initial trigger for weakness is 1.2955, the

Jan 14 low. Trendline support, drawn off the Sep 3 low is at 1.2901.