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Clears The 1.2921 Resistance *RES 4:....>

CABLE TECHS
CABLE TECHS: Clears The 1.2921 Resistance
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High Oct 5
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 Intraday high
*PRICE: 1.2964 @ 10:33 GMT Nov 18
*SUP 1: 1.2897 Intraday low
*SUP 2: 1.2816 Low Nov 12
*SUP 3: 1.2769 Low Nov 8 and bear trigger
*SUP 4: 1.2703 200-day MA
GBPUSD has extended today's gains in Europe. The recent focus has been on the
potential for a move lower. A break of 1.2789, Oct 24 low would trigger this and
allow the steep uptrend that unfolded off the Oct 8 low to unwind. However,
prices have today cleared resistance at 1.2921, a trendline drawn off the Oct 21
high. This break highlights a bull flag formation since Oct 21 and signals a
resumption of the uptrend. The focus shifts to key resistance at 1.3013.

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