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: 1.2720 @ 05:59 BST Jul 22

*SUP 1: 1.2650 Low Jul 21

*SUP 2: 1.2507/2480 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

continued 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 and open 1.2849. On the

downside, key support remains 1.2480, Jul 14 low where a break is required to

sour the developing bullish theme.