Focus Remains On Corrective Pullback....>

CABLE TECHS: Focus Remains On Corrective Pullback

*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: 1.2903 @ 19:31 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

GBPUSD recovered off the Tuesday lows well but closed the day unchanged. This

pattern repeated Wednesday, keeping focus on the pullback from Oct 21, which 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.