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GBP/USD's ebb back toward session lows of.....>

CABLE: GBP/USD's ebb back toward session lows of $1.40 comes as most major pairs
are feeling the effects of a continuation of the dollar gains on Friday. Support
for cable may be seen on an approach toward $1.3955, the 50% fib level for the
$1.3765-1.4145 move. As many have pointed out this morning, volumes are expected
to remain light going forward with US desks unmanned due to the Presidents' Day
market holiday. Larger orders seen either waiting on the sidelines or getting
done while the liquidity's there this morning. Price action, therefore, could
peter out from 1200GMT onwards. 
MNI London Bureau | +44 203-865-3809 |
MNI London Bureau | +44 203-865-3809 |

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