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Upside Focus Intact *RES 4: 1.2849......>

CABLE TECHS
CABLE TECHS: Upside Focus Intact
*RES 4: 1.2849 High Mar 12
*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: 1.2476 @ 05:55 BST Apr 16
*SUP 1: 1.2438 Low Apr 15 and key intraday support
*SUP 2: 1.2361 Low Apr 9
*SUP 3: 1.2288 Low Apr 8
*SUP 4: 1.2166 Low Apr 7 and key support
Despite yesterday's pullback, GBPUSD maintains a bullish outlook. A positive
theme follows the recent break of 1.2486, Mar 27 high that confirmed a
resumption of the rally since Mar 20. Price has also traded through the 50-day
EMA further reinforcing a positive price structure. The focus is on gains above
1.2700 next with attention on 1.2778, 76.4% retracement of the Mar 9 - 20
sell-off. A break of yesterday's 1.2438 low however would concern bulls.

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