Cable drifted off to an eventual low of.......>

CABLE: Cable drifted off to an eventual low of $1.3051 by late Thursday trade,

as the mild euphoria over the Article50 extension faded with the USD able to

further pare Wednesday losses, seen ahead of FOMC Minutes release, as rate

corrected away from $1.3120. Early consolidation in Asia saw rate trade between

$1.3053-62, dipped to retest $1.3051 before it rallied to $1.3081, the move seen

as a consequence of strong EUR/JPY demand at the Tokyo fix, which in turn edged

EUR/USD higher with demand for GBP/JPY also noted. However, gains struggled to

hold into Europe as fresh sales emerged, easing it back to $1.3060. The

Article50 extension out to Oct31 has provided some relief from Brexit pressure

but market will remain wary of headlines.

- Support remains into $1.3050, $1.3025/20, $1.3000, $1.2980/70. Resistance

$1.380/85, $1.3100, $1.3120/30. 

- A light UK data calendar Friday. BOE Carney speaks at a panel discussion

1630GMT at IMF HQ. Q&A to follow.