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CABLE TECHS
CABLE TECHS: 50% YTD Retracement Under Pressure
GBPUSD has broken cleanly below its 200/100-dmas and on Wednesday the 50% YTD
retracement is providing some support at 1.2911. With the outlook looking
bearish the 61.8% retracement of the 2016 lows to the 2018 highs at 1.2810
provides the next downside target. Below here lies the Feb 14 low at 1.2773.
Bulls need to recover the 200/100-dmas at 1.2961/63 to stabilise the outlook
while a break back above triangle resistance at 1.3050 is needed to suggest an
upside reversal.
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