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Technical Outlook: Cable Falls Back Near Daily Cloud Top On Downbeat UK Data

Cable came under pressure after UK Industrial, Construction and Manufacturing output unexpectedly fell in May.

Industrial production was at -0.1% in May vs 0.4% forecast, Construction output fell 1.2% against forecast rise by 0.7%, while Manufacturing output numbers showed decline of 0.% in May, below forecasted increase of 0.5%.

Cable erased gains from Thursday on fall back to 1.2912 and pressuring again daily cloud top support (1.2906), break of which would generate fresh bearish signal.

Res: 1.2974, 1.2983, 1.3000, 1.3029
Sup: 1.2906, 1.2893, 1.2872, 1.2861

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