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Bulls Still Struggle For Impetus........>

CABLE TECHS
CABLE TECHS: Bulls Still Struggle For Impetus
Sterling was defensive following the release of weak UK GDP data on Monday, with
ongoing political uncertainty also weighing. The corrective pullback off
Friday's post NFP highs (1.2762) extended through 1.2655 on Monday, and a break
below here would expose the 61.8% retracement of 1.2559-1.2763 at 1.2637. Below
here opens the Jun 3 low & 76.4% fibo at 1.2611/07, ahead of the May 31 ytd low
at 1.2559. Bulls need to overcome 1.2760/65 to return the focus towards 1.2800.
While any move above 1.2813 would suggest that a bullish reversal is in play.
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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