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Off Recent Lows *RES 4: 1.3215 High.....>

CABLE TECHS
CABLE TECHS: Off Recent Lows
*RES 4: 1.3215 High Feb 3 and key resistance
*RES 3: 1.3129 76.4% retracement of the Feb 3 - Feb 20 decline
*RES 2: 1.3075 61.8% retracement of the Feb 3 - Feb 20 decline
*RES 1: 1.3047/70 50-dma / High Feb 5 and 13
*PRICE: 1.2941 @ 05:31 GMT Feb 24
*SUP 1: 1.2849 Low Feb 20 and key support
*SUP 2: 1.2840 1.0% 10-dma envelope
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
GBP markets recovered well Friday. A stronger recovery though is required in
Cable before the bearish outlook stemming from the mid-February decline is
countered. Attention is on resistance at 1.3070 where a break is required for
bulls to regain control. This would signal scope for an extension towards
1.3215, the Feb 3 high and key near-term resistance. While 1.3070 remains
intact, a bearish threat dominates. Sub 1.2894 levels resumes the downtrend.

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