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Struggling to Build Above 1.27 GBPUSD...>

CABLE TECHS
CABLE TECHS: Struggling to Build Above 1.27
GBPUSD was unable to sustain its break above the 21-dma yesterday which keeps
the broader bearish trend intact for now. Bulls need a convincing break of 1.27
(series of previous lows) & the 21-dma to improve the short-term outlook. A
close above targets the 38.2% retracement level at 1.2744, ahead of the Dec
highs at 1.2840. Downside focus remains on a break of 1.25 & ytd low at 1.2478,
before challenging the Apr 11 2017 low at 1.2404.

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