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Probes Key Resistance *RES 4: 1.2849....>

CABLE TECHS
CABLE TECHS: Probes Key Resistance
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2777 76.4% retracement of the Mar 9 - 20 sell-off
*RES 2: 1.2726 Low Feb 28
*RES 1: 1.2690 Intraday high
*PRICE: 1.2628 @ 10:32 BST Jun 5
*SUP 1: 1.2479 Low Jun 2
*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 retains a bullish outlook. Recent gains have resulted in a break and
close above the 50-day EMA. This has strengthened the upside case, alongside the
break of resistance at 1.2467, May 8 high. Attention is on 1.2648, Apr 14 high
and a key resistance. This level has been probed today, a clear break would open
1.2726, Feb 28 low. If the pair turns lower from here though, the recent bearish
focus will return. Firm support lies at 1.2322, Monday's low.

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