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CABLE TECHS: Corrective Pullback Still Likely
*RES 4: 1.3080 High May 8
*RES 3: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2950 High Oct 24
*PRICE: 1.2862 @ 16:23 GMT Oct 28
*SUP 1: 1.2789 Low Oct 24
*SUP 2: 1.2750/15 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2516 Low Oct 14
GBPUSD is slightly firmer Monday but remains relatively quiet. The pullback last
week, is still viewed as a correction. From a trend perspective, the outlook
remains bullish with the focus on the upside trigger at 1.3013, Oct 21 high. It
is however possible we'll continue to see a correction unfold before bullish
activity resumes as the recent uptrend has been steep. Support for now is seen
around 1.2715, the 200-DMA and 1.2603, Oct 15 low.