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Trades Below Former 1.3013 Breakout.....>

CABLE TECHS
CABLE TECHS: Trades Below Former 1.3013 Breakout Level
*RES 4: 1.3514 High Dec 13
*RES 3:1.3422 High Dec 16
*RES 2: 1.3338 High Dec 17
*RES 1: 1.3134 High Dec 18
*PRICE: 1.3046 @ 10:30 GMT Dec 20
*SUP 1: 1.2990 Low Dec 19
*SUP 2: 1.2983 Low Dec 4
*SUP 3: 1.2944 50-dma
*SUP 4: 1.2905 2.0% 10-dma envelope
GBPUSD weakened further Thursday, hitting a new post-election low at 1.2990. The
move lower looks to have been prefaced by Tuesday's significant 3-day bearish
candle pattern, an evening-star-reversal which continues to play out. The
pullback this week has also resulted in a print below the former key breakout
level of 1.3013, Oct 21 high and opens the early December lows at 1.2983 and the
50-dma at 1.2944. Initial resistance is 1.3134, Dec 18 high.

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