Tops Key Resistance *RES 4: 1.3018......>

CABLE TECHS: Tops Key Resistance

*RES 4: 1.3018 76.4% December 2019 - March 2020 Decline

*RES 3: 1.2849 High Mar 12

*RES 2: 1.2777 76.4% retracement of the Mar 9 - 20 sell-off

*RES 1: 1.2731 Intraday high

*PRICE: 1.2700 @ 16:42 BST Jun 5

*SUP 1: 1.2479 Low Jun 2

*SUP 2: 1.2322 Low Jun 1

*SUP 3: 1.2206 Low May 27

*SUP 4: 1.2162 Low May 22 and a key near-term support

GBPUSD retains a bullish outlook. Recent gains have resulted in a break and

close above the 50-day EMA. This has strengthened the upside case, alongside the

break of resistance at 1.2467, May 8 high. Key resistance at the 1.2648 mark,

Apr 14 high was topped as well as 1.2726, the Feb 28 low. This exposes 1.2777

and the Mar 12 high at 1.2849. If the pair turns lower from here though, the

recent bearish focus will return. Firm support lies at 1.2322, Monday's low.