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Consolidating *RES 4: 1.3130 1.50.......>

CABLE TECHS: Consolidating
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2918 @ 05:35 GMT Nov 22
*SUP 1: 1.2868 Low Nov 15
*SUP 2: 1.2816 Low Nov 12
*SUP 3: 1.2769 Low Nov 8 and bear trigger
*SUP 4: 1.2705 200-day MA
GBPUSD is consolidating. The pair maintains a firmer outlook though following
Monday's gains that resulted in a break of resistance at 1.2921, a trendline
drawn off the Oct 21 high. The break confirmed a bull flag formation since Oct
21, and signals a resumption of the uptrend that began in early September.
Attention is on 1.3013, Oct 21 high and the bull trigger. Initial support is at
1.2868, Nov 15 low. A break would concern bulls and potentially re-open 1.2769.

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