Holding Above Tuesday's Low *RES 4:.....>

CABLE TECHS: Holding Above Tuesday's Low

*RES 4: 1.2803 2.0% 10-dma envelope

*RES 3: 1.2755 High Jun 11

*RES 2: 1.2704 200-dma

*RES 1: 1.2670/88 High Jul 9 / High Jun 16

*PRICE: 1.2544 @ 10:17 BST Jul 16

*SUP 1: 1.2485/80 50-day EMA / Low Jul 14

*SUP 2: 1.2438 Low Jul 3 and key near-term support

*SUP 3: 1.2360 Low Jul 1

*SUP 4: 1.2252 Low Jun 29 and key support

GBPUSD continues to trade above Tuesday's low of 1.2480A bullish outlook remains

intact and attention is on 1.2670, Jul 9 peak. A break would confirm a

resumption of the recovery that has been in place since Jun 29 and pave the way

for strength towards 1.2813, Jun 10 high. Moving average studies maintain a

bullish position reinforcing the current positive outlook. A move below 1.2480

though would threaten the current bullish cycle.