A poor UK retail sales number pushed..........>

CABLE: A poor UK retail sales number pushed GBP/USD below $1.30 in early dealing

on Thursday, as the pair crossed below the aforementioned level for the first

time since August of last year, adding to the string of poor data that may force

the BoE to re-consider its rate hike intentions (at least in the longer run).

Cable then registered a low of $1.2958 as broader USD strength prevailed into

the U.S. session.

- The pair rallied later in the day, on the back of U.S. President Trump's well

documented comments.

- The cross was subjected to the broader USD gyrations on the back of the softer

PBOC CNY fixing, registering a low of $1.2995 overnight.

- GBP/USD last deals 12 pips higher at $1.3025, with resistance observed at

yesterday's high ($1.3083), while support lies at the 61.8% retracement of the

move from $1.2958 to $1.3049 ($1.2993).

- Looking ahead, focus will fall on a print interview from BoE's Tenreyro later

today, with BoE's Broadbent due to speak on Monday. Rates markets still price a

circa 80% chance of a hike in at the the BoE's August MonPol decision.