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CABLE TECHS
CABLE TECHS: Pulls Away From Resistance
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2726 Low Feb 28
*RES 2: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger
*RES 1: 1.2516 Intraday high
*PRICE: 1.2418 @ 16:17 BST May 4
*SUP 1: 1.2406 Low May 04
*SUP 2: 1.2389 Low Apr 29 and key intraday support
*SUP 3: 1.2298 Low Apr 24
*SUP 4: 1.2248 Low Apr 21 and the bear trigger
The recent GBPUSD focus has been on key resistance at 1.2648, Apr 14 high. A
break of this level would confirm a resumption of the uptrend that has been in
place since Mar 20 and open 1.2726 initially, the Feb 28 low. However, the pair
has started the week on a soft note, pulling away from 1.2648. Further weakness
would expose key support at 1.2248, Apr 21 low. A breach if seen, would
highlight a reversal. Initial firm support is 1.2389.

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