Cable extended its losing streak yesterday,...>

CABLE: Cable extended its losing streak yesterday, as Brexit matters continued

to inspire uncertainties, while USD grew stronger, on the back of solid econ

data and better domestic equity markets. The rate last trades at $1.2795,

virtually unchanged on the day.

- As had been hinted by the media, yesterday PM May was asked to lay out the

timeline of her departure by the leader of rank-and-file Tories. As agreed

during their meeting, the timeline will be finalised after the parliamentary

vote on May's withdrawal bill, regardless of the lawmakers' decision. This makes

May's survival in office until the UK's exit from the EU highly unlikely.

- Should cable extend losses through the Feb 14 low/lower Bollinger band (2%) at

$1.2773/72, bears would turn their focus to the Jan 4/Dec 25 highs of

$1.2745/44. Conversely, a return above $1.2800, breached for the first time

since mid-Feb yesterday, would expose $1.2820, which represents the lower 1.0%

10-DMA envelope. Above here opens $1.2852, where the rate peaked yesterday.

- UK economic docket is virtually empty today.