Clears MA Levels *RES 4: 1.2691.........>

CABLE TECHS: Clears MA Levels

*RES 4: 1.2691 200-dma

*RES 3: 1.2688 High Jun 16

*RES 2: 1.2599 61.8% retracement of the Jun 10 - 29 decline

*RES 1: 1.2543 High Jun 24 and key near-term resistance

*PRICE: 1.2522 @ 10:34 BST Jul 2

*SUP 1: 1.2360 Low Jul 1

*SUP 2: 1.2252 Low Jun 29

*SUP 3: 1.2250 76.4% retracement of the May 18 - Jun 10 rally

*SUP 4: 1.2171 2.0% 10-dma envelope

GBPUSD's recovery extended Wednesday, with prices topping both the 20- and

50-day EMAs as well as the 100-dma at 1.2472. A firmer tone remains intact this

morning too. The move higher this week opens 1.2543 next, Jun 24 high and the

near-term target. Tuesday's price action was a bullish engulfing candle and

subsequent strength has confirmed this pattern and a S/T reversal. Key support

and the trigger for a resumption of weakness is 1.2252, Monday's low.