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Vulnerable Following Trendline Break....>

CABLE TECHS
CABLE TECHS: Vulnerable Following Trendline Break
*RES 4: 1.3212 High Jan 7
*RES 3: 1.3215 High Feb 3 and key S/T resistance
*RES 2: 1.3070 High Feb 5
*RES 1: 1.2003 High Feb 6
*PRICE: 1.2907 @ 05:48 GMT Feb 10
*SUP 1: 1.2881 Intraday low
*SUP 2: 1.2824 Low Nov 22
*SUP 3: 1.2769 Low Nov 8
*SUP 4: 1.2736 50% retracement of the Sep 3 - Dec 13 rally
GBPUSD is vulnerable following last week's break of trendline support, prompting
fresh 2020 lows. The trendline is drawn off the Sep 3 low and had been under
pressure most of the week. The move lower has breached 1.2905, Dec 23 low and
former key support exposing 1.2824. The 100-dma is 1.2899, highlighting the
importance of limiting weakness below 1.2900 for those looking for a recovery.
For now, bears remain in charge. Initial firm resistance is 1.3070.

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