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Cable has added 11 pips thus far and last.....>

CABLE
CABLE: Cable has added 11 pips thus far and last trades at $1.2956, following
the Telegraph's report of cabinet ministers holding secret discussions on plans
to delay Brexit by 8 weeks (an idea that is not welcomed by PM May). 
- GBP/USD tumbled 92 pips Tuesday, with sterling finishing at the bottom of the
G10 pile, as UK services PMI slipped to a 2.5-year low of 50.1 from 51.2 in
January, undershooting forecasts of 51.0. Meanwhile, PM May said the Irish
backstop will not be removed from her Brexit deal, but added that she will seek
changes to the contentious clause. The PM is set to travel to Brussels on
Thursday for talks re: the withdrawal agreement. 
- After the rate broke well below its 200-DMA at $1.3029 Tuesday, bears eye
$1.2925, which limited losses Tuesday, before challenging the psychological
$1.2900 level. Meanwhile, bulls look to the 21-DMA at $1.2976 before attempting
a move at the aforementioned 200-DMA. 
- Thursday will bring the first BoE MonPol decision of 2019, alongside the
release of the Bank's inflation report & meeting minutes.

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