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Bulls Need Weekly Close Above 1.30......>

CABLE TECHS
CABLE TECHS: Bulls Need Weekly Close Above 1.30
GBPUSD tried but failed to breach the 1.30 level overnight. Rate drifted
throughout Europe to 1.2927 as traders positioned for a soft UK Retail Sales
release. Bears look for close back below 1.28 to shift the outlook neutral, with
a break of 1.26 needed to return focus to the Jan 2 low at 1.2441. A weekly
close above 1.30 would be very bullish, with topside focus on descending
trendline resistance & the 200-dma at 1.3083/89.

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