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Probing Supports: *RES 4: 1.2670 50%....>

CABLE TECHS
CABLE TECHS: Probing Supports:
*RES 4: 1.2670 50% retracement of the Mar 13 - Sep 3 decline
*RES 3: 1.2582 High Sep 20 / High Jul 15 and bull trigger
*RES 2: 1.2503 High Sep 24
*RES 1: 1.2381 High Sep 26
*PRICE: 1.2282 @ 09:28 GMT Oct 1
*SUP 1: 1.2261 Intraday low
*SUP 2: 1.2262 50-dma
*SUP 3: 1.2234/10 Low Sep 9 and Sep 5
*SUP 4: 1.2197 61.8% Sep 3 - Sep 20 rise
GBPUSD edged lower earlier touching 1.2261. This has resulted in the pair
probing the 50% Fibonacci retracement of Sep 3 - Sep 20 rally at 1.2271 and the
the 50-dma at 1.2262. A clear break of this support area would open a deeper
correction towards 1.2197, the 61.8% retracement. If the current move lower is
still a correction, prices ideally should find support ahead of the 61.8%
retracement. A move above resistance at 1.2381 would be encouraging for bulls.

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