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Recovers Well Off Tuesday Low *RES 4:...>

CABLE TECHS
CABLE TECHS: Recovers Well Off Tuesday Low
*RES 4: 1.2791 2.0% 10-dma envelope
*RES 3: 1.2755 High Jun 11
*RES 2: 1.2702 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2607 @ 16:31 BST Jul 15
*SUP 1: 1.2481/80 50-day EMA / Low Jul 14
*SUP 2: 1.2438 Low Jul 3 and key near-term support
*SUP 3: 1.2360 Low Jul 1
*SUP 4: 1.2252 Low Jun 29 and key support
GBPUSD staged a decent recovery off the 1.2480 lows Tuesday and recovered
further Wednesday. A bullish outlook remains intact and attention is on 1.2670,
Jul 9 peak. A break would confirm a resumption of the recovery that has been in
place since Jun 29 and pave the way for strength towards 1.2813, Jun 10 high.
Moving average studies maintain a bullish position reinforcing the current
positive outlook. The first key support is 1.2480, Jul 14 low.

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