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Under Pressure But Upside Momentum......>

CABLE TECHS
CABLE TECHS: Under Pressure But Upside Momentum Remains
GBPUSD has come under a bit of pressure this morning, reversing most of Friday's
gains, but the cross remains above the pivotal 1.32 level, keeping the upside
momentum intact. Bulls now look to recover the 1.33 level to shift the focus
back to Wednesday's high & 50% retracement level at 1.3381/1.3409. Above here
would lend further weight to a large bottoming formation. On the downside bears
need a close back under 1.32 to bring the 100-hma & 50% retracement level back
into view at 1.3177/65.

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