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CABLE TECHS: Focus Is On Corrective Pullback
*RES 4: 1.3080 High May 8
*RES 3: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2950 High Oct 24
*PRICE: 1.2880 @ 09:50 GMT Oct 30
*SUP 1: 1.2789 Low Oct 24
*SUP 2: 1.2750/15 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2516 Low Oct 14
GBPUSD recovered off the day low however closed the day unchanged. The pullback
in Cable from Oct 21 is still viewed as a correction and there remains the
possibility we'll still see a deeper sell-off before bullish activity resumes,
as the recent uptrend has been steep. The trigger is 1.2789, Oct 24 low. Support
is seen around 1.2715, the 200-DMA and 1.2603, Oct 15 low. Overall, bullish
trend conditions remain intact, the bull trigger is 1.3013, Oct 21 high.