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CABLE TECHS: Choppy But Holds Above Support
*RES 4: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 3: 1.2503 High Sep 24
*RES 2: 1.2433 100-day MA
*RES 1: 1.2346 High Sep 30
*PRICE: 1.2312 @ 09:06 GMT Oct 3
*SUP 1: 1.2207 Low Oct1
*SUP 2: 1.2197 61.8% Sep 3 - Sep 20 rise
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
*SUP 4: 1.2079 Low Sep 4
GBPUSD choppy activity has dominated the past two sessions. The pair has managed
to hold above Tuesday's low of 1.2207 and for now, more importantly above
1.2197. This is the 61.8% retracement of Sep 3 - Sep 20 rise and is an important
pivot point. If the recent pullback is a correction, 1.2197 would be expected to
provide a firm support for a renewed push higher. A clear break of the 50-dma
and 1.2197 however would a bearish development.
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