Extends This Weeks Rally *RES 4:........>

CABLE TECHS: Extends This Weeks Rally

*RES 4: 1.3020 0.764 projection of the Mar 20 - Apr 14 rally from May 18 low

*RES 3: 1.2977 High Mar 11

*RES 2: 1.2849 High Mar 12

*RES 1:1.2813 High Jun 10 and key resistance

*PRICE: 1.2739 @ 18:23 BST Jul 21

*SUP 1: 1.2650 Low Jul 21

*SUP 2: 1.2498/80 50-day EMA / Low Jul 14

*SUP 3: 1.2438 Low Jul 3 and key near-term support

*SUP 4: 1.2360 Low Jul 1

GBPUSD started the week on a firm note trading higher Monday and this theme

followed through Tuesday. The pair has cleared resistance at 1.2670, Jul 9 peak

paving the way for a test of key resistance at 1.2813, Jun 10 high. Clearance of

this hurdle would further reinforce bullish conditions. On the downside, key

support remains 1.2480, Jul 14 low where a break is required to sour the

developing bullish theme.