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CABLE TECHS: Trapped Within 1.3013 and 1.2769
*RES 4: 1.3130 1.50 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3048 High May 10
*RES 2: 1.3013 High Oct 21 and bull trigger
*RES 1: 1.2985 High Nov 18
*PRICE: 1.2854 @ 05:31 GMT Nov 27
*SUP 1: 1.2824 Low Nov 22
*SUP 2: 1.2769 Low Nov 8 and bear trigger
*SUP 3: 1.2703 200-day MA
*SUP 4: 1.2658 Low Oct 16
GBPUSD is currently trading in the middle of the sideways range that has
developed since prices peaked at 1.3013 on Oct 21. From a broader trend
perspective, the outlook remains bullish and the consolation is viewed as a
potential bull flag formation. If correct, this suggests an eventual break
higher to confirm a resumption of the uptrend. 1.3013 is resistance and the key
bull trigger. On the downside, the key support lies at 1.2769, Nov 8 low.