Watching The Key Directional Triggers...>

CABLE TECHS: Watching The Key Directional Triggers

*RES 4: 1.2726 Low Feb 28

*RES 3: 1.2643/48 High Apr 13 /High Apr 14 and the bull trigger

*RES 2: 1.2516 High May 4

*RES 1: 1.2484 High May 5

*PRICE: 1.2428 @ 05:55 BST May 11

*SUP 1: 1.2355 Low May 8

*SUP 2: 1.2266 Low May 7

*SUP 3: 1.2248 Low Apr 21 and the bear trigger

*SUP 4: 1.2166 Low Apr 7 and a key support

GBPUSD managed to bounce into the Friday close to salvage a flat close on the

week. Price action since Apr 14 has defined two key directional triggers,

resistance at 1.2648 and a key support at 1.2248, May 7 low. A break of 1.2648,

Apr 14 high is required to confirm a resumption of the uptrend since Mar 20 and

open 1.2726, Feb 28 low. On the downside, a break of 1.2248 however would

instead highlight a reversal and open 1.2166 initially.