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Remains Vulnerable *RES 4: 1.3338.......>

CABLE TECHS
CABLE TECHS: Remains Vulnerable
*RES 4: 1.3338 High Dec 17
*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 2: 1.3212 High Jul 7
*RES 1: 1.3124 Jan 9 high
*PRICE: 1.3027 @ 16:35 GMT Jan 15
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2905 Low Dec 23 and key support
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2837 Trendline support drawn off the Sep 3 low
GBPUSD near-term risk is still skewed to the downside following the continued
pullback that has unfolded since the Dec 31 high. Monday saw the pair breach
support at 1.3013, the Jan 9 low. A deeper retracement would open 1.2905, Dec 23
low and a key support. Note, trendline support drawn off the Sep 3 low
intersects at 1.2837. Price needs to trade above 1.3212, Jan 7 high to reinstate
a bullish focus and expose 1.3284.

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