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Briefly Under 1.2900 After breaking.....>

CABLE TECHS
CABLE TECHS: Briefly Under 1.2900
After breaking above 1.30 on Friday, GBPUSD continued its reversal to briefly
trade under 1.2900 and return focus to the downside. Bears target the 1.2800
level, a close below here would trigger renewed selling pressure, bringing the
ytd low at 1.2662 back into view. Bulls need to close above the 50-dma at 1.3003
for the next leg higher, a level which has been hard to overcome in recent
sessions. Above here shifts the outlook firmly bullish, suggesting a basing
pattern has formed.

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