On the Up *RES 4: 1.2726 Low Feb 28.....>

CABLE TECHS: On the Up

*RES 4: 1.2726 Low Feb 28

*RES 3: 1.2648 High Apr 14 and key resistance

*RES 2: 1.2601 High May 1

*RES 1: 1.2573 100-dma

*PRICE: 1.2537 @ 16:47 BST Jun 2

*SUP 1: 1.2479 Intraday low

*SUP 2: 1.2322 Low Jun 1

*SUP 3: 1.2206 Low May 27

*SUP 4: 1.2162 Low May 22 and a key near-term support

GBPUSD rallied throughout the Monday session resulting in a close above the

50-day EMA at 1.2372. This has strengthened the upside case, alongside the break

of resistance at 1.2467, May 8 high and, Tuesday's gains have also reinforced

bullish conditions. Attention is on the 100-dma at 1.2573 and 1.2648, Apr 14

high. If the pair turns lower from here though, the recent bearish focus will

come back into play. Firm support lies at 1.2322, the Monday low.