*** Bank reports begin to suggest that we.....>

CABLE: *** Bank reports begin to suggest that we may have seen a temporary low

in sterling, Deutsche Bank in a morning note has suggested that Eur/Gbp's rise

begins to look overstretched, highlighting that data surprises are showing

tentative signs of improvement. This along with signs that Brexit negotiations

are shifting to a more 'realistic view'. Traders in Asia and Europe have

highlighted resistance at the $1.2840 level, technical trend resistance/channel

top from $1.3160(Aug4), offers have been reported into this level with

additional suggestions that stops likely placed on a break above, though cable

seen needing a break of $1.2918-39 to begin negating the recent bearish tone.

Support noted between $1.2765/50, a break here to open potential for a deeper

move toward $1.2700. Eur/Gbp holds back above Gbp0.9200 but remains well off its

recent highs of Gbp0.92335-0.92365. A break of Gbp0.9190/70 area needed to

provide better relief to upside pressure.