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Consolidation Phase Despite a minor.....>

CABLE TECHS
CABLE TECHS: Consolidation Phase
Despite a minor pullback ahead of Friday's close, GBPUSD extended to 1.2865 in
Asia and is starting to generate fresh intraday bullish signals. The 21-dma
currently at 1.2882 is the next hurdle to overcome, a break opens the Aug 22
high at 1.2936 ahead of the Jul 19 low at 1.2958. A close above here would
suggest a solid base is forming. Failure to hold 1.2800 would see downside
momentum build with bears targeting the 1.2750 level and Aug 15 low at 1.2662.

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