Signs Of Strength *RES 4: 1.2648 High...>

CABLE TECHS: Signs Of Strength

*RES 4: 1.2648 High Apr 14 and key resistance

*RES 3: 1.2601 High May 1

*RES 2: 1.2578 100-dma

*RES 1: 1.2525 Intraday high

*PRICE: 1.2480 @ 05:39 BST Jun 2

*SUP 1: 1.2322 Low Jun 1

*SUP 2: 1.2206 Low May 27

*SUP 3: 1.2162 Low May 22 and a key near-term support

*SUP 4: 1.2076 Low May 18 and bear trigger

GBPUSD rallied throughout the Monday session and resulted in a close above the

50-day EMA at 1.2372, strengthening the upside case alongside the break of

resistance at 1.2467, the May 8 high. This brings the 100-dma at 1.2578 and

1.2648, Apr 14 high into contention. If the pair turns lower from here though,

the recent bearish focus will come back into play. Initial support lies at

1.2322, yesterday's low ahead of 1.2206, May 27 low.