Rebound Set To Extend *RES 4: 1.3514....>

CABLE TECHS: Rebound Set To Extend

*RES 4: 1.3514 High Dec 13 and key resistance

*RES 3: 1.3422 High Dec 16

*RES 2: 1.3338 High Dec 17

*RES 1: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high

*PRICE: 1.3209 @ 10:20 GMT Jan 2

*SUP 1: 1.3066 Low Dec 30

*SUP 2: 1.2969 Low Dec 27

*SUP 3: 1.2905 Low Dec 23 and key support

*SUP 4: 1.2824 Low Nov 22

GBPUSD maintains a firmer tone despite pulling back this morning. The pair

earlier this week cleared a key resistance at 1.3134, Dec 18 high, signalling

scope for a stronger recovery. Thus far, price action has stalled at 1.3281,

61.8% of the Dec 13 - Dec 23 decline. A clear breach of this level would open

the recent highs of 1.3514, Dec 13 high. Key support for now is 1.2905, a break

is needed to resume the recent bearish pressure. Initial support is at 1.3066.