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Candle Patterns A Concern For Bulls.....>

CABLE TECHS
CABLE TECHS: Candle Patterns A Concern For Bulls
*RES 4: 1.3018 76.4% December 2019 - March 2020 Decline
*RES 3: 1.2849 High Mar 12
*RES 2: 1.2813 High Jun 10 and the bull trigger
*RES 1: 1.2755 High Jun 11
*PRICE: 1.2531 @ 16:53 BST Jun 12
*SUP 1: 1.2520 Low Jun 12
*SUP 2: 1.2501 Low Jun 4 and key near-term support
*SUP 3: 1.2452 50-day EMA
*SUP 4: 1.2322 Low Jun 1
GBPUSD's bullish outlook paused across Thursday and Friday, but key supports
remain intact. While they do, a bullish theme dominates following last week's
gains and break of 1.2648, Apr 14 high. This confirmed a resumption of the
recovery that started on Mar 20. Firm support lies at 1.2501, Jun 4 low. A
warning for bulls, Thursday's price action in candle terms is a bearish
engulfing. A break of support at 1.2501 would reinforce this threat.

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