Corrective Gains *RES 4: 1.2726 Low.....>

CABLE TECHS: Corrective Gains

*RES 4: 1.2726 Low Feb 28

*RES 3: 1.2648 High Apr 14 and the bull trigger

*RES 2: 1.2529 High Apr 16 and key intraday resistance

*RES 1: 1.2455 High Apr 27

*PRICE: 1.2411 @ 05:46 BST Apr 28

*SUP 1: 1.2298 Low Apr 24

*SUP 2: 1.2248 Low Apr 21 and the bear trigger

*SUP 3: 1.2182 2.0% 10-dma envelope

*SUP 4: 1.2166/67 Low Apr 7/Apr 21 and key support

GBPUSD is firmer following the recovery off 1.2248, Apr 21 low. Current gains

are likely a correction though. The recent pullback off 1.2648, Apr 14 high

signalled a concern for bulls while last Wednesday's break of 1.2408 low, Apr 16

low confirmed a S/T reversal. The focus is on 1.2166, Apr 7 low. A break would

open 1.2030, a Fibonacci retracement. Note, the initial bear trigger is 1.2248,

Apr 21 low. A move above 1.2529 is required to expose 1.2468 instead.