Cable deals a touch lower at $1.2947 after....>

CABLE: Cable deals a touch lower at $1.2947 after advancing 56 pips yesterday,

as UK election campaign retained the spotlight. Sterling was bid from the off,

owing to the widening support for the Tory party (per the latest polls) & the

announcement that all Conservative candidates standing in the upcoming election

signed pledges to back PM Johnson's Brexit deal. Elsewhere, PM Johnson

backtracked from the plan to cut corporation tax next April and pledged to

direct resultant savings to the NHS.

- The daily chart shows a bullish flag formation unfold over the last month or

so. A break above the Oct 21 peak at $1.3013 would reaffirm the topside bias,

opening up the May 10 peak at $1.3048. Meanwhile, a slide below the Oct 24 low

of $1.2789 would put bears into the driving seat.

- The first pre-election debate, involving PM Johnson and Labour Leader Corbyn,

will take place on Tuesday evening. London's High Court dismissed a suit by the

Lib Dems & SNP, whose leaders haven not been invited to take part in the debate.

- On the data front, flash UK PMIs are due on Friday.