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Eyeing The EMA Resistance *RES 4:.......>

CABLE TECHS
CABLE TECHS: Eyeing The EMA Resistance
*RES 4: 1.2516 High May 4
*RES 3: 1.2467 High May 20 and key resistance
*RES 2: 1.2380 50-day EMA
*RES 1: 1.2363 High May 13
*PRICE: 1.2304 @ 10:30 BST May 27
*SUP 1: 1.2162 Low May 22
*SUP 2: 1.2076 Low May 18 and bear trigger
*SUP 3: 1.2030 50% retracement of the Mar 20 - Apr 14 rally
*SUP 4: 1.2000 Round number support
Cable reversed course yesterday on the back of general USD weakness. This places
on hold for now at least, the recent bearish focus following last week's break
of support at 1.2166, Apr 7 low that confirmed a range breakout. The pair
yesterday traded through resistance at 1.2282/96 marking the 20-day EMA and May
19 high. This signals scope for an intraday climb towards the 50-day EMA at
1.2380. A break would open 1.2467. Support lies at 1.2162, May 22 low.

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