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Sterling Back on The Defensive GBPUSD...>

CABLE TECHS
CABLE TECHS: Sterling Back on The Defensive
GBPUSD dipped back under 1.32 after reports that EU leaders are said to be
looking at May 22 as the Brexit extension date, rather than PM May's June 30.
The 50% retracement level of 1.1841-1.4377 provides the first layer of support
at 1.3109, a break further extends the downtrend toward the Mar 7 low & 50-dma
at 1.3069/60. Bulls need a close above 1.32 to stabilise the outlook and bring
the 1.3250/55 area back into view which holds the 100-hma & series of previous
highs/lows.

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