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CABLE TECHS: Caught Between 1.3013 and 1.2769
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2856 @ 10:51 GMT Nov 26
*SUP 1: 1.2824 Low Nov 22
*SUP 2: 1.2769 Low Nov 8 and bear trigger
*SUP 3: 1.2704 200-day MA
*SUP 4: 1.2658 Low Oct 16
Recent attention in GBPUSD has been on the bullish implications of activity on
Nov 18 where resistance at 1.2921 was breached, a trendline drawn off the Oct 21
high. Price action since the break though has not been encouraging for bulls,
failing to tackle key resistance at 1.3013, Oct 21 high and lacking a clear
trend direction. While 1.3013 is resistance, support lies at 1.2769, Nov 8 low.
For a clearer directional signal, either of these levels need to be breached.