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Light Profit Taking Momentum type.......>

CABLE TECHS
CABLE TECHS: Light Profit Taking
Momentum type accounts on the break of 1.2800 extended to 1.2846 which has been
a welcome relief for GBP. Despite mild profit taking, there is a growing case to
be made for a bullish reversal. The next hurdle to overcome is hourly resistance
at 1.2855 and beyond this the July 19 low of 1.2958. Bears need to break back
below 1.2750 to return the focus to the downside.
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com
MNI London Bureau | +44 203-865-3809 | edward.hardy@marketnews.com

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