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Under Pressure *RES 4: 1.3588 2.236.....>

CABLE TECHS
CABLE TECHS: Under Pressure
*RES 4: 1.3588 2.236 projection of Sep 3 - Sep 20 rally from Oct 8 low
*RES 3: 1.3514 High Dec 13
*RES 2: 1.3422 High Dec 16
*RES 1: 1.3338 Intraday high
*PRICE: 1.3108 @ 16:16 GMT Dec 17
*SUP 1: 1.3101 Intraday low
*SUP 2: 1.3051 Low Dec 12 and key support
*SUP 3: 1.3013 High Oct 21 and former breakout point
*SUP 4: 1.2983 Low Dec 4
GBPUSD bearish pressure dominated Tuesday. The pair has fallen sharply since
Friday's impressive rally that peaked at 1.3514. Today's activity does not bode
well for bulls near-term. In candle terms, a significant 3-day bearish reversal
pattern appears to be forming in the shape of an evening-star-reversal. If
confirmed this would expose 1.3051, Dec 12 low and below. Initial resistance is
at 1.3338.

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