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CABLE TECHS: Close Below 1.29 Would Accelerate the Move Lower
GBPUSD has continued to move lower following Tuesday's breach of the 100 &
200-dma's. 1.29 is under pressure. A close below here would bring the Feb 12 low
at 1.2833 into the picture ahead of the opens the 61.8% retracement of the 2016
lows to the 2018 highs at 1.2810. Bulls need to recover the 200/100-dmas at
1.2962/64 to stabilise the outlook, while a break back above triangle resistance
at 1.3029 is needed to suggest an upside reversal.