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Yet to Top Monday High *RES 3: 1.3070...>

CABLE TECHS
CABLE TECHS: Yet to Top Monday High
*RES 3: 1.3070 High Feb 13
*RES 2: 1.3018/20 High Feb 25 / 50-dma
*RES 1: 1.2946 High Feb 27
*PRICE: 1.2845 @ 16:55 GMT Mar 4
*SUP 1: 1.2726 Low Feb 28
*SUP 2: 1.2702 200-dma
*SUP 3: 1.2630 2.0% 10-dma envelope
GBPUSD is consolidating but remains vulnerable. The pair holds below the Monday
high, which keeps the outlook looking a touch weak. The break of the 1.2849, Feb
20 low former support last week, reinstated a bearish theme with Cable likely to
edge lower near-term. Price tested the 1.2736 retracement Friday, 50.0% of the
Sep - Dec rally. Further weakness would open 1.2702, the 200 dma. If this is
cleared, it would expose 1.2603 and 1.2553. Key short-term resistance is seen at
1.3018, Feb 25 high.

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