Broken the Bottom of the Range After....>

CABLE TECHS: Broken the Bottom of the Range

After Being Stuck in a 165 pip range between 1.2762-1.2927 for seven sessions,

GBPUSD has broken out the bottom of its range this morning, finding support just

ahead of 1.2724, the Nov 15 low. Below here the uptrend from the August lows

comes in ahead

of the Oct 30 low at 1.2709/96 before the YTD lows at 1.2662 come into play. A

break of these levels would see support around the June 2017 lows at 1.2589. To

return to a more bullish outlook we need to see GBPUSD hold sustainably above

1.2911 (the 38.2% retracement from 1.2696-1.3258). Above here 1.2977 and the

100/50 dmas at 1.2990/93 come into play.