Broke above $1.32 in late NY to extend the....>

CABLE: Broke above $1.32 in late NY to extend the recent recovery rally to

$1.3215 before momentum faded and it slipped back to $1.3156 into the close, and

ahead of the release of the awaited YouGov MRP poll (watched due to its calling

of a hung parliament result at the last election). Release of the poll result

into Asia cut the Conservatives lead, the suggested majority easing to 28 seats

though with a margin of error encompassing the possibility for another hung

parliament result, though not ruling out a larger Conservative majority. The

negatives were focused on and sterling took a knock, cable dropped to $1.3108 in

thin opening trade, but managed to recover to $1.3147 through the session. Early

Europe seen pressing rate back to $1.3127 as longs trim their bets. As for

Thursday polling day, exit polls usually give a fairly good picture of the

result from around 2200GMT, with a clearer picture around Friday at 0200GMT

before all the results are in. US CPI and FOMC provide focus for today but

sterling will be on poll watch. 

- Support $1.3110/00, $1.3085/80, $1.3050. Resistance $1.3150/60, $1.3200,

$1.3215.