As recovery efforts hold shallow another......>

CABLE: As recovery efforts hold shallow another wave of short, sharp GBP

pressure adds weight to briefly make a show under $1.30. Next support is seen at

$1.2992/90 which represents the 38.2% retracement of $1.2696-1.3175 & 21-dma.

Main focus turns to the raft of UK data at the bottom of the hour. GDP the

highlight and the MNI median points to Q3 GDP growing by 0.6%, however signs of

a calming in the UK economy are apparent. After flat m/m growth in August,

analysts anticipate growth of just 0.1% m/m growth in September - with risks

tilted to the downside. Trade Balance, Index of Services, Mfg & Industrial

Production also due up. Rate lifts to $1.3009 at typing.