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Weaker Morning Session *RES 4: 1.3338...>

CABLE TECHS
CABLE TECHS: Weaker Morning Session
*RES 4: 1.3338 High Dec 17
*RES 3: 1.3281/84 61.8% of the Dec 13 - Dec 23 decline / Dec 31 high
*RES 2: 1.3212 High Jul 7
*RES 1: 1.3118 Intraday high
*PRICE: 1.3056 @ 10:18 GMT Jan 17
*SUP 1: 1.2955 Low Jan 14
*SUP 2: 1.2905 Low Dec 23 and key support
*SUP 3: 1.2824 Low Nov 22
*SUP 4: 1.2856 Trendline support drawn off the Sep 3 low
GBPUSD finds resistance following a poor retail sales release. Overall, the
near-term risk remains skewed to the downside following the bearish theme that
has unfolded since the Dec 31 high. A deeper retracement would open 1.2905, Dec
23 low and a key support. Note, trendline support drawn off the Sep 3 low
intersects at 1.2856. Price needs to trade above 1.3212, Jan 7 high to reinstate
a bullish focus and expose 1.3284.

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