Eating Through Last Week's Gains *RES...>

CABLE TECHS: Eating Through Last Week's Gains

*RES 3: 1.3215 High Feb 3 and key S/T resistance

*RES 2: 1.3085 61.8% retracement of the Feb 3 - feb 10 decline

*RES 1: 1.3065/70 50-dma / High Feb 5 and 13

*PRICE: 1.2999 @ 09:38 GMT Feb 18

*SUP 1: 1.2944/43 Low Feb 13 / 100-dma

*SUP 2: 1.2872 Low Feb 10 and key bear trigger

*SUP 3: 1.2824 Low Nov 22

The pair continues to chew through last week's gains, opening a gap with the

former trendline drawn off the Sep 3 low that was breached on Feb 6. Should the

pair correct lower from here, this would again signal a bearish threat and

expose 1.2872, Feb 10 low. A move through this support opens 1.2824, the Nov 22

low. For bulls to regain control, a break above last Thursday's high of 1.3070

would be encouraging and would signal scope for an extension towards 1.3215, the

Feb 3 high and a key near-term resistance.