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Stutters at Friday's Highs Despite a....>

CABLE TECHS
CABLE TECHS: Stutters at Friday's Highs
Despite a minor pullback ahead of Friday's close, GBPUSD extended to 1.2865 in
Asia and then rose to challenge Friday's highs at $1.2881 with relatively little
difficulty. The 21-dma currently at 1.2882 is the next hurdle to overcome, a
break opens the Aug 22 high at 1.2936 ahead of the Jul 19 low at 1.2958. A close
above here would suggest a solid base is forming. Failure to hold 1.2800 would
see downside momentum build with bears targeting the 1.2750 level and Aug 15 low
at 1.2662.

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