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Bearish Outlook Brexit uncertainties....>

CABLE TECHS
CABLE TECHS: Bearish Outlook
Brexit uncertainties surrounding PM May's leadership keeps sterling on the
defensive. GBPUSD breached 1.2630 and is currently generating a near-clean sweep
of bearish signals, according to the MNI FX Technical Signal Monitor. Near-term
support comes in today at 1.2616 from Jan 4 low, further support is located
behind on approach to 1.26. A downside break is likely to accelerate the move
toward Jan 3 hourly support at 1.2550/55. Bulls need to recover the 1.2800 level
to stabilise the outlook, before challenging neckline support-turned-resistance
at 1.2900.

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