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Erratic in the Range *RES 3: 1.3422.....>

CABLE TECHS
CABLE TECHS: Erratic in the Range
*RES 3: 1.3422 High Dec 16
*RES 2: 1.3338 High Dec 17
*RES 1: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*PRICE: 1.3146 @ 16:32 GMT Jan 2
*SUP 1: 1.3066 Low Dec 30
*SUP 2: 1.2969 Low Dec 27
*SUP 3: 1.2905 Low Dec 23 and key support
GBPUSD inched lower throughout the Thursday session, eating away at the gains
posted in the last trading session of 2019. Nonetheless, the over-arching
outlook remains firm after the clearance of key resistance at 1.3134, the Dec 18
high, signalling scope for a stronger recovery. Thus far, price action has
stalled at 1.3281, 61.8% of the Dec 13 - Dec 23 decline. A clear breach of this
level would open the recent highs of 1.3514, Dec 13 high. Key support for now is
1.2905, a break is needed to resume the recent bearish pressure. Initial support
is at 1.3066.

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