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Tests The 50-day EMA *RES 4: 1.2849.....>

CABLE TECHS
CABLE TECHS: Tests The 50-day EMA
*RES 4: 1.2849 High Mar 12
*RES 3: 1.2813 High Jun 10 and the bull trigger
*RES 2: 1.2755 High Jun 11
*RES 1: 1.2654 High Jun 12
*PRICE: 1.2555 @ 16:41 BST Jun 15
*SUP 1: 1.2456/55 50-day EMA / Intraday low
*SUP 2: 1.2322 Low Jun 1
*SUP 3: 1.2250 76.4% retracement of the May 18 - Jun 10 rally
*SUP 4: 1.2162 Low May 22
GBPUSD traded below 1.2501, Jun 4 low on Friday to place on pause the recent
bullish outlook. Last week's move lower does highlight a near-term bearish risk
leaving support at 1.2456, 50-day EMA exposed. A break would open 1.2322, Jun 1
low. An ability this week to hold above the 50-day EMA though would be
encouraging for bulls. A recovery off the average would refocus attention on
last week's high and bull trigger at 1.2813.

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