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Cable had been pressured by the broader USD...>

CABLE: Cable had been pressured by the broader USD strength on Monday, with late
comments made by BoE's Broadbent ("he doesn't know if he'll vote for an August
rate hike") pushing GBP/USD to fresh lows of $1.3083, in line with the July 19
high ($1.3084), but the pair has reclaimed $1.3100.
- Resistance comes in at the intraday high from Monday, followed by the 61.8%
retracement of the move from $1.3293 to $1.2958 ($1.3159/65). Support is noted
at Monday's intraday low ($1.3083).
- Participants continue to focus on the political situation ahead of next week's
BoE decision. Ministers will publish the Withdrawal Agreement and Implementation
Bill on Tuesday, which will enshrine the Brexit divorce arrangements & any
future deal with Brussels into law. The Telegraph reports that the document
states that "the EU will inform the UK of the required payment amounts during
the transition process."
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

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