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

CABLE TECHS
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: 1.3055 @ 16:50 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.

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