GBPUSD touched NY highs of $1.2880 Friday.....>

CABLE: GBPUSD touched NY highs of $1.2880 Friday on react to Fed Powell's speech

at Jackson Hole which questioned the Fed's conviction as to how far rates can

rise, before paring light gains to close either side of $1.2850. Consolidation

has largely remained the theme through Asia, light volumes saw the pair

contained to a narrow $1.2829-65 range. Near-term resistance is seen at

$1.2882/84 (21-dma/61.8% $1.2936-1.2800), bulls need a break of $1.29 to retain

the upper hand. Support is expected at $1.2800 which also holds the 50%

retracement level of $1.2662-1.2936. EURGBP maintained outright bullish signals

to print Gbp0.9059, its highest levels in nearly a year. Gbp0.9083 provides the

next target, Sep 12 2017 high. Meanwhile, GBPJPY continues its impressive 300+

pip recovery off Aug15 lows, but needs to break and hold above Y143.00 for the

next leg higher.