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CABLE TECHS: Marginal New Low
GBPUSD briefly dipped below 1.2850 yesterday, breaking below last Thursday's low
to open the Jan 21 low & 50% retracement level at 1.2831/29, ahead of the 50-dma
at 1.2814. Bulls need to recover the Feb 7 high at 1.2996 to reopen the 200-dma
at 1.3016. Above here would improve the outlook, with topside focus on a break
of 1.3160 which would trigger a bullish pennant formation.