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CABLE TECHS: Key resistance At 1.3013
*RES 4: 1.3080 High May 8
*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: 1.2976 Intraday high
*PRICE: 1.2942 @ 15:49 GMT Oct 31
*SUP 1: 1.2789 Low Oct 24
*SUP 2: 1.2750/13 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2516 Low Oct 14
GBPUSD extended the week's recovery Thursday. Recent weakness down to 1.2789 has
been viewed as a correction. There still remains the possibility we'll see a
deeper sell-off before stronger bullish activity resumes, as the uptrend since
Oct 8 has been steep. The trigger is for an extension lower is 1.2789, Oct 24
low. This would open 1.2714, the 200-DMA and 1.2603, Oct 15 low. On the upside,
the bull trigger is 1.3013, Oct 21 high.