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Topside Gains Limited Sterling..........>

CABLE TECHS
CABLE TECHS: Topside Gains Limited
Sterling remains defensive following the release of weak UK data, amid the
backdrop of political uncertainty. The corrective pullback off Friday's post NFP
highs (1.2762) extended through 1.2655 and brings the 61.8% retracement of
1.2559-1.2763 into view at 1.2637. Below here opens the Jun 3 low & 76.4% fibo
at 1.2611/07, ahead of the May 31 ytd low at 1.2559. Bulls need to overcome
1.2760/65 to return the focus towards 1.2800. While any move above 1.2813 would
suggest that a bullish reversal is in play.

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