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CABLE TECHS: Focus Is On A Breach Of 1.3000
*RES 4: 1.3159/68 200-WMA, 50.0% of Apr 2018 - Sep 2019 decline
*RES 3: 1.3080 High May 8
*RES 2: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 1: 1.3013 High Oct 21
*PRICE: 1.2938 @ 09:13 GMT Oct 22
*SUP 1: 1.2840 Low Oct 18
*SUP 2: 1.2750/16 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2516 Low Oct 14
GBPUSD appears to be consolidating for now. The outlook is bullish with the pair
holding onto recent gains. Note though, the trend is steep. This keeps us wary
of the risk a sudden corrective setback could unfold with very little warning.
The pair traded above the 1.3000 handle Monday, a decisive break of this level
would open 1.3045, 76.4% retracement of Mar 13 to Sep 3 decline. Support is at
1.2840, Oct 18 low and 1.2750, Oct 17 low.