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USD selling post US GDP Friday lifted cable...>

CABLE
CABLE: USD selling post US GDP Friday lifted cable through $1.29, before topping
out ahead of $1.2950. Trading volumes remained light overnight with GBPUSD
holding toward the upper end of its $1.2915-39 range.
- Bulls will need a close above the 100 & 200-dma's ($1.2967/60) to reignite
upside momentum, targeting a break and consolidation above the 1.30 level. While
a downside break of $1.29 would see bears look to challenge Thursday's low at
$1.2866.
- GBPJPY extends the recovery to Y144.49 and rests on resistance from the
200-dma (Y144.52). A close above here is required to extend the uptrend towards
the Y145 level which also holds the 38.2% retracement of Y147.01-143.77.
- Focus this week on the BoE policy rate decision & PMI Construction/Services
reads. BoE Governor Carney speaks in London today at 0810GMT, Deputy Governor
Ramsden speaks tomorrow at 0740GMT. The local elections are on Thursday with
further damage expected for the Conservative Party after the Brexit delays. 

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