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Vulnerable Following Breach Of..........>

CABLE TECHS
CABLE TECHS: Vulnerable Following Breach Of Trendline Support
*RES 4: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 3: 1.3212 High Jan 7
*RES 2: 1.3215 High Feb 3 and key S/T resistance
*RES 1: 1.3070 High Feb 5
*PRICE: 1.2930 @ 16:14 GMT Feb 7
*SUP 1: 1.2921 Low Feb 6
*SUP 2: 1.2905 Low Dec 23 and key near-term support
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2769 Low Nov 8
Bears were successful Thursday in pressuring GBPUSD through trendline support,
prompting fresh 2020 lows. The trendline is drawn off the Sep 3 low and has been
under pressure most of this week. The break lower has exposed 1.2905, Dec 23 low
and the next key support. The 100-dma intersects at 1.2895, highlighting the
importance of holding above 1.2900 for those looking for a recovery. Initial
resistance is at Wednesday's 1.3070 high.

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