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Softer For Now *RES 4: 1.3338 High......>

CABLE TECHS
CABLE TECHS: Softer For Now
*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: 1.3028 @ 05:42 GMT Jan 13
*SUP 1: 1.3013 Low Jan 9
*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 is softer this morning and approaching initial support at 1.3013, Jan 9
low. The near-term risk remains skewed to the downside following the continued
pullback that has unfolded since the Dec 31 high. 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 1.2819. Price needs to return above 1.3212, Jan 7 high
to reinstate a bullish focus.

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