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Focus Remains On Key Resistance *RES....>

CABLE TECHS
CABLE TECHS: Focus Remains On Key Resistance
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2648 High Apr 14 and key resistance
*RES 1: 1.2633 High Jun 04
*PRICE: 1.2615 @ 05:56 BST Jun 5
*SUP 1: 1.2479 Low Jun 2
*SUP 2: 1.2322 Low Jun 1
*SUP 3: 1.2206 Low May 27
*SUP 4: 1.2162 Low May 22 and a key near-term support
GBPUSD retains a bullish outlook. Recent gains have resulted in a break and
close above the 50-day EMA. This has strengthened the upside case, alongside the
break of resistance at 1.2467, May 8 high. With the 100-dma also breached,
attention is on 1.2648, Apr 14 high and a key resistance. A break would open
1.2726, Feb 28 low. If the pair turns lower from here though, the recent bearish
focus will return. Firm support lies at 1.2322, the Monday low.

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