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Focus Is On Support At 1.2789 *RES 4:...>

CABLE TECHS
CABLE TECHS: Focus Is On Support At 1.2789
*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: 1.2976 High Oct 31
*PRICE: 1.2877 @ 18:09 GMT Nov 5
*SUP 1: 1.2845 Low Oct 30
*SUP 2: 1.2789 Low Oct 24 and key near-term support
*SUP 3: 1.2750/11 Low Oct 17 / 200-DMA
*SUP 4: 1.2603 Low Oct 15
GBPUSD traded lower today however selling pressure was rather muted. There still
remains the possibility we'll see a deeper sell-off before stronger bullish
activity resumes, as the uptrend since Oct 8 has been steep. Indeed, yesterday's
activity reinforces this potential. The trigger for an extension lower is
1.2789, Oct 24 low. This would open 1.2711, the 200-DMA and 1.2603, Oct 15 low.
On the upside, the bull trigger is at 1.3013, Oct 21 high.

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