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Still Heavy! *RES 4: 1.2688 High Jun....>

CABLE TECHS
CABLE TECHS: Still Heavy!
*RES 4: 1.2688 High Jun 16
*RES 3: 1.2543 High Jun 24 and key near-term resistance
*RES 2: 1.2478 100-dma
*RES 1: 1.2390 High Jun 29
*PRICE: 1.2265 @ 10:26 BST Jun 30
*SUP 1: 1.2252 Low Jun 29
*SUP 2: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
*SUP 3: 1.2188 2.0% 10-dma envelope
*SUP 4: 1.2112 50% retracement of the Mar - Jun recovery
The bearish GBPUSD momentum evident at the Friday close followed through into
Monday's session, with the pair slipping to new June lows of 1.2252, just a few
pips above a Fibonacci support at 1.2250. A break of the retracement would pave
the way for a test of 1.2162, May 22 low. For bulls to establish a firmer
footing, the pair needs to climb back above the 100-dma at 1.2478 and through
1.2543, Jun 24 high to challenge resistance at 1.2688, Jun 16 high.

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