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Trading Closer To Recent Highs *RES.....>

CABLE TECHS
CABLE TECHS: Trading Closer To Recent Highs
*RES 4: 1.2755 High Jun 11
*RES 3: 1.2750 2.0% 10-dma envelope
*RES 2: 1.2699 200-dma
*RES 1: 1.2670/88 High Jul 9 / High Jun 16
*PRICE: 1.2604@ 10:14BST Jul 13
*SUP 1: 1.2567 Low Jul 10
*SUP 2: 1.2509 Low Jul 8
*SUP 3: 1.2475 50-day EMA
*SUP 4: 1.2438 Low Jul 3 and key near-term support
GBPUSD is softer this morning but is still trading closer to recent highs and
attention remains on 1.2670, Jul 9 peak. A break of this hurdle would confirm a
resumption of the recovery that has been in place since Jun 29 and pave the way
for strength towards 1.2813, Jun 10 high. Moving average studies have adopted a
bullish position reinforcing the current positive outlook. On the downside,
initial support lies at 1.2567, Friday's low.

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