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CABLE TECHS: Key Support Lies At 1.2197
*RES 4: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 3: 1.2503 High Sep 24
*RES 2: 1.2433 100-day MA
*RES 1: 1.2413 High Oct 3
*PRICE: 1.2306 @ 15:29 GMT Oct 4
*SUP 1: 1.2207 Low Oct1
*SUP 2: 1.2197 61.8% Sep 3 - Sep 20 rise
*SUP 3: 1.2106 76.4% Sep 3 - Sep 20 rise
GBPUSD had a volatile week, managing to recover slightly into the end of the
week and narrowed the gap with the 100-dma at 1.2429. The pair appears more
constructive for now having held above Tuesday's low and importantly 1.2197 this
week. 1.2197 marks the 61.8% retracement of Sep 3 - Sep 20 rise and is an
important pivot point. While it holds, the potential for a stronger recovery
remains. A clear break of the 50-dma and 1.2197 support however would see
bearish pressure resume.