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Holds just shy of touching the 1.618% swing...>

CABLE
MNI (London)
CABLE: Holds just shy of touching the 1.618% swing target at $1.2334 (based on
the recent recovery from $1.2506 to $1.2784), the rate posting a fresh
intraday/YTD low of  $1.2335. As we've seen in recent sessions cable is
struggling to perform a decent recovery and is thus keeping focus on the
downside. Next support seen at the base of its 1.0% 10-dma envelope at $1.2326,
below here expect stronger support into $1.2300. Resistance remains into
$1.2400. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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