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CABLE TECHS: Watching The 1.2921 Resistance
*RES 4: 1.3048 High Oct 5
*RES 3: 1.3013 High Oct 21 and bull trigger
*RES 2: 1.2976 High Oct 31
*RES 1: 1.2921 Trendline resistance drawn off Oct 21 high
*PRICE: 1.2908 @ 17:50 GMT Nov 15
*SUP 1: 1.2769 Low Nov 8 and bear trigger
*SUP 2: 1.2703 200-day MA
*SUP 3: 1.2603 Low Oct 15
*SUP 4: 1.2582 High Sep 20 and former breakout point
GBPUSD traded higher Friday. The focus recently has been on the potential
weakness. A move below 1.2789, Oct 24 low would allow the steep uptrend that
unfolded off the Oct 8 low to unwind before bullish activity resumes. This would
open 1.2703, the 200-DMA and 1.2603, Oct 15 low. Resistance is at 1.2921, a
trendline drawn off the Oct 21 high. A break of this level would highlight a
bull flag formation instead and signal a potential resumption of the uptrend.