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Cautiously Bullish *RES 4: 1.2600.......>

CABLE TECHS
CABLE TECHS: Cautiously Bullish
*RES 4: 1.2600 High Jul 3
*RES 3: 1.2582 High Sep 20 and key resistance
*RES 2: 1.2503 High Sep 24
*RES 1: 1.2469 High Oct 10
*PRICE: 1.2439 @ 03:10 GMT Oct 11
*SUP 1: 1.2337 50% retracement yesterday's range
*SUP 2: 1.2195 Low Oct 8
*SUP 3: 1.2178 1.0% 10-dma envelope
*SUP 4: 1.2106 76.4% Sep 3 - Sep 20 rise
A sharp rally in GBPUSD yesterday resulted in a close above the 100-dma at
1.2413. The move higher means the key 61.8% retracement level at 1.2197 remains
intact despite a brief test below it on Oct 8. Attention turns to 1.2582, Sep 20
high where a break would confirm a bullish outlook and signal scope for stronger
gains. Note, the market remains wary of headline-induced volatility, a sharp
reversal lower would again expose the recent lows at 1.2195.

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