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

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: 1.2460 @ 08:13 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.