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Going Nowhere Fast *RES 4: 1.3215.......>

CABLE TECHS
CABLE TECHS: Going Nowhere Fast
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3070/75 High Feb 13 / 61.8% of the Feb 3 - Feb 20 decline
*RES 1: 1.3030/70 50-dma / High Feb 5 and 13
*PRICE: 1.2884 @ 10:32 GMT Feb 28
*SUP 1: 1.2849 Low Feb 20 and key support
*SUP 2: 1.2824 1.0% 10-dma envelope / Low Nov 22
*SUP 3: 1.2769 Low Nov 8
*SUP 4: 1.2736 50% retracement of the Sep - Dec rally
GBPUSD traded lower Thursday. The pair has failed thus far to build on the
recovery off last Thursday's low. Ultimately, a break above 1.3070, Feb 13 high
is required to signal a developing bullish theme. A breach would be positive and
signal scope for an extension towards 1.3215, Feb 3 high and also the key
resistance. While 1.3070 remains intact though, a bearish threat dominates. Sub
1.2849 levels would resume the downtrend.

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