Key Directional Triggers Intact *RES....>

CABLE TECHS: Key Directional Triggers Intact

*RES 4: 1.2726 Low Feb 28

*RES 3: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger

*RES 2: 1.2516 High May 4

*RES 1: 1.2484 High May 5

*PRICE: 1.2328 @ 10:29 BST May 12

*SUP 1: 1.2266 Low May 7

*SUP 2: 1.2248 Low Apr 21 and the bear trigger

*SUP 3: 1.2166 Low Apr 7 and a key support

*SUP 4: 1.2030 50% retracement of the Mar 20 - Apr 14 rally

GBPUSD price action since mid April has defined two key directional triggers,

resistance at 1.2648, Apr 14 high and a key support at 1.2248, May 7 low. A

break of 1.2648 is required to confirm a resumption of the uptrend that started

on Mar 20 and open 1.2726, Feb 28 low initially. On the downside, a move through

1.2248 would instead highlight a reversal and expose 1.2166 and below. For now,

the pair continues to trade within the range.