Looking For Gains *RES 4: 1.3338 High...>

CABLE TECHS: Looking For Gains

*RES 4: 1.3338 High Dec 17

*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high

*RES 2: 1.3212 High Jan 7

*RES 1: 1.3173 High Jan 24

*PRICE: 1.3094 @ 10:13 GMT Jan 27

*SUP 1: 1.2955 Low Jan 14

*SUP 2: 1.2905/10 Low Dec 23 / Trendline support drawn off the Sep 3 low

*SUP 3: 1.2824 Low Nov 22

*SUP 4: 1.2769 Low Nov 8

Last week's gains in GBPUSD stalled at 1.3173 on Jan 24. However despite this,

the short-term focus is on the potential bullish significance of the recent

break of 1.3118, Jan 17 high. A rebound would see bulls target 1.3212 next ahead

of the 1.3281 Fibonacci resistance area. A reversal lower still remains a

possibility though. The initial trigger for weakness is 1.2955, the Jan 14 low.

Trendline support, drawn off the Sep 3 low is at 1.2910.