GBPUSD TECHS: Fresh Cycle Low

* RES 4: 1.3599 High Aug 28 * RES 3: 1.3568 High Sep 9 * RES 2: 1.3469 50-day EMA * RES 1: 1.3406 High Sep 17 * PRICE: 1.3315 @ 06:35 BST Sep 23 * SUP 1: 1.3274 Low Jul 28 * SUP 2: 1.3266 76.4% retracement of the Jun 24 - Aug 21 bull leg * SUP 3: 1.3219 Low Jul 1 * SUP 4: 1.3140 Low Jun 24 and a key M/T support A bearish theme in GBPUSD remains intact and a fresh cycle low today reinforces this theme. The pair continues to retrace the bull cycle between Jun 24 and Aug 21 and sights are on 1.3266, the 76.4% retracement point of the bull cycle. A break of this level would strengthen the current bearish theme. On the upside, initial firm resistance is seen at 1.3469, the 50-day EMA. Short-term gains would be considered corrective.