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Political Uncertainty Sterling..........>

CABLE TECHS
CABLE TECHS: Political Uncertainty
Sterling remains at the mercy of UK political headlines and struggles to build
above 1.27. Bulls need to clear 1.2700/10 (series of hourly highs/lows through
June), before challenging the 1.2755/65 area. Above here opens a run at the 1.28
level, with any move through 1.2813 triggering a bullish reversal. Bears target
a break of the 61.8% retracement of 1.2559-1.2763 & pivotal support line off Mar
highs at 1.2637/31. Below here opens a run at the 1.26 level, ahead of the May
31 low at 1.2559.

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