Off Recent Highs *RES 4: 1.3514 High....>

CABLE TECHS: Off Recent Highs

*RES 4: 1.3514 High Dec 13 and key resistance

*RES 3: 1.3422 High Dec 16

*RES 2: 1.3338 High Dec 17

*RES 1: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high

*PRICE: 1.3125 @ 05:45 GMT Jan 3

*SUP 1: 1.3066 Low Dec 30

*SUP 2: 1.2969 Low Dec 27

*SUP 3: 1.2905 Low Dec 23 and key support

*SUP 4: 1.2824 Low Nov 22

GBPUSD sold off Thursday, eating away at the gains posted in the last trading

session of 2019. Nonetheless, the S/T outlook remains firm following the sharp

bounce between Dec 23 and Dec 31. Thus far, price action has stalled at 1.3281,

61.8% of the Dec 13 - Dec 23 decline. A clear breach of this level would open

the recent highs of 1.3514, Dec 13 high. Key support for now is 1.2905, a break

is needed to resume the recent bearish pressure. Initial support is at 1.3066.