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21-DMA Caps Topside Gains Despite.......>

CABLE TECHS
CABLE TECHS: 21-DMA Caps Topside Gains
Despite briefly trading above 1.27 yesterday, GBPUSD was unable to break above
the 21-dma, which keeps the recent downtrend intact. Bears continue to focus on
a break of 1.25 & the ytd low at 1.2478, before challenging the Apr 11 2017 low
at 1.2404. Bulls need a convincing break of 1.27 (series of previous lows) & the
21-dma to stabilise the short-term outlook. A close above targets the 38.2%
retracement level at 1.2710/44, ahead of the Dec highs at 1.2840.

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