Rescued into the Close *RES 4: 1.2726...>

CABLE TECHS: Rescued into the Close

*RES 4: 1.2726 Low Feb 28

*RES 3: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger

*RES 2: 1.2516 High May 4

*RES 1: 1.2450 High May 6

*PRICE: 1.2434 @ 16:36 BST May 8

*SUP 1: 1.2266 Low May 7

*SUP 2: 1.2248 Low Apr 21 and the bear trigger

*SUP 3: 1.2166 Low Apr 7 and a key support

*SUP 4: 1.2132 Low Mar 27

After a protracted weakness throughout the week, GBP managed to bounce into the

Friday close to salvage a flat close on the week. Attention has recently been on

resistance at 1.2648, Apr 14 high. A break is required to confirm a resumption

of the uptrend since Mar 20 and open 1.2726, Feb 28 low. Following the mid-week

pullback though,the focus shifts to key support at 1.2248, Apr 21 low where a

break if seen, would highlight a reversal and open 1.2166, low Apr 7.