Correcting *RES 4: 1.3281 61.8%.........>

CABLE TECHS: Correcting

*RES 4: 1.3281 61.8% retracement of the Dec 13 - Dec 23 decline

*RES 3: 1.3210 50% retracement of the Dec 13 - Dec 23 decline

*RES 2: 1.3134 High Dec 18 and key near-term resistance

*RES 1: 1.3117 High Dec 27

*PRICE: 1.3097 @ 16:29 GMT Dec 27

*SUP 1: 1.2969 Intraday low

*SUP 2: 1.2905 Low Dec 23

*SUP 3: 1.2810 2.0% 10-dma envelope

*SUP 4: 1.2824 Low Nov 22

GBPUSD is trading off recent lows and maintains a firmer intraday tone. The

broader outlook though remains bearish following last week's reversal. The

sell-off resulted in a break of 1.3013, Oct 21 high and a former breakout level,

paving the way for weakness towards 1.2900 and potentially the 1.2800 level.

Firm resistance for today is seen at 1.3134, Dec 18 high. A break is needed to

suggest scope for a stronger intraday bounce.