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Struggling For Support GBPUSD...........>

CABLE TECHS
CABLE TECHS: Struggling For Support
GBPUSD continues to trade near cycle lows as the corrective rebound was short
lived and failed to overcome the initial resistance at 1.2976, keeping the
bearish trend intact. Focus returns to Monday's 1.2920 low, with a break below
here extending the major downtrend towards 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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