Stretching Topside Range *RES 3:........>

CABLE TECHS: Stretching Topside Range

*RES 3: 1.2467 High May 20 and key resistance

*RES 2: 1.2394 High May 13

*RES 1: 1.2373 50-day EMA

*PRICE: 1.2334 @ 16:43 BST May 29

*SUP 1: 1.2162 Low May 22

*SUP 2: 1.2076 Low May 18 and bear trigger

*SUP 3: 1.2030 50% retracement of the Mar 20 - Apr 14 rally

After a quiet morning, the pair looked to stretch the topside range, briefly

topping the 50-day EMA at 1.2373. No extended rally was forthcoming, however, as

markets retreated into the close. This keeps resistance at 1.2467, the May 8

high as the first upside target. If the pair turns lower from here though, the

recent bearish focus will come back into play, but bears need to take out

support at 1.2162, May 22 low to strengthen this. A break would open 1.2076, May

18 low.