Cable had been pressured Monday by broad......>

CABLE: Cable had been pressured Monday by broad USD strength, with late comments

made by BoE's Broadbent ("he doesn't know if he'll vote for an August rate

hike") pressed GBP/USD to lows of $1.3083, in line with the July 19 high

($1.3084), before the pair reclaimed $1.3100. Consolidation in Asia saw rate

hold a tight range around $1.3100 for most of the session, edged to $1.3110

before it began a slow drift lower. This move down picked up momentum ahead of

the European open, squeezed to $1.3085 before it edged back to $1.3096. Fresh

sales, driven by USD demand, now sees rate break back down to an extended low of

$1.3079 with rate holding heavy at writing. Next support of note seen into

$1.3050. Move seen in tandem with EUR/USD as EUR/GBP holds steady around

Gbp0.8920. 

- 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. However, some suggest focus has already moved on to the 'trade

bill'(future relationship with the EU). UK CBI Orders data due at 1000GMT.