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Pulling Back *RES 3: 1.3045 76.4%.......>

CABLE TECHS
CABLE TECHS: Pulling Back
*RES 3: 1.3045 76.4% retracement of Mar 13 - Sep 3 decline
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2950 High Oct 24
*PRICE: 1.2896 @ 15:59 GMT Oct 29
*SUP 1: 1.2789 Low Oct 24
*SUP 2: 1.2750/15 Low Oct 17 / 200-DMA
*SUP 3: 1.2603 Low Oct 15
GBPUSD shrugged off a spell of selling pressure in the European morning with
support at 1.2789 (Oct 24 low) never really being tested. The pullback in Cable
since the mid-October highs is still viewed as a correction and there remains
the possibility we'll see a deeper sell-off before bullish activity resumes as
the recent uptrend has been steep. Overall, bullish trend conditions remain
intact and the focus is still on a test of the upside trigger at 1.3013, Oct 21
high. Support is seen around 1.2715, the 200-DMA and 1.2603, Oct 15 low.

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