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Recovery Efforts Shallow GBPUSD.........>

CABLE TECHS
CABLE TECHS: Recovery Efforts Shallow
GBPUSD slipped to 11-month lows of 1.2854 with intraday signals continuing
bearish. The recovery failed to reclaim 1.2900 suggesting further downside
pressure in the short term. Bears look toward the lower end of the major
descending channel where trendline support now intervenes at 1.2846. A break
above 1.2976 is needed to provide the first sign of stability, but 1.3064 would
have to be overcome to generate a bullish reversal.

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