Upside Focus Deteriorates *RES 3:.......>

CABLE TECHS: Upside Focus Deteriorates

*RES 3: 1.2778 76.4% retracement of the Mar 9 - 20 sell-off

*RES 2: 1.2726 Low Feb 28

*RES 1: 1.2648 High Apr 14 and the bull trigger

*PRICE: 1.2432 @ 16:23 BST Apr 16

*SUP 1: 1.2413 Low Apr 16

*SUP 2: 1.2361 Low Apr 9

*SUP 3: 1.2288 Low Apr 8

Following Wednesday's weakness, the pair sold off again into the close Thursday,

working further against the upside outlook. This appears to negate the positive

theme that emerged following the break of 1.2486. The break to fresh weekly lows

Thursday will be a concern for bulls, with the next leg lower initially

targeting 1.2361 before the early April lows at 1.2166. For the upside structure

to resume, price needs to recover above 1.2700 with attention on 1.2778, 76.4%

retracement of the Mar 9 - 20 sell-off.