The importance of the break of the 13 day mvg avg was emphasised by a 2nd up day in a row Tuesday that took CABLE to the most positive levels for 3 weeks. This move is counter trend and sterling remains subject to uncertainty concerns. Nevertheless, and despite an Asian dip, our studies are left positive by this upside with a close above 1.3217 likely to add to momentum.
Any setbacks should find fresh buyers near 1.3147. Upside potential exists through 1.3197 to 1.3217 and 1.3242. And only below 1.3111 is negative