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Key Resistance Defined At 1.2648 *RES...>

CABLE TECHS
CABLE TECHS: Key Resistance Defined At 1.2648
*RES 4: 1.2778 76.4% retracement of the Mar 9 - 20 sell-off
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2648 High Apr 14 and the bull trigger
*RES 1: 1.2529 High Apr 16
*PRICE: 1.2461 @ 16:43 BST Apr 20
*SUP 1: 1.2407/08 20-day EMA / Low Apr 16
*SUP 2: 1.2361 Low Apr 9
*SUP 3: 1.2288 Low Apr 8
*SUP 4: 1.2166 Low Apr 7 and key support
GBPUSD last week's pullback off the Apr 14 high of 1.2648 provides some concern
for bulls. A break of the 1.2408 low on Apr 16 would further damage the recent
bullish theme and expose 1.2361, Apr 9 low and potentially the key support at
1.2166, Apr 7 low. On the upside, the pair needs to trade back above last
Tuesday's 1.2648 high to reinstate the recent recovery. This would open 1.2700
and 1.2778, 76.4% retracement of the Mar 9 - 20 sell-off.

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