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Still Vulnerable *RES 4: 1.3338 High....>

CABLE TECHS
CABLE TECHS: Still 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: 1.3029 @ 05:30 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 found support yesterday. The near-term risk however 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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