Cable has declined by ~45 pips thus far and...>

CABLE: Cable has declined by ~45 pips thus far and last trades at $1.3145. Bears

look for a breach of the $1.3100 mark, while bulls look to the 100-WMA at

$1.3223, which capped gains last Friday.

- Wednesday saw cable start on the back foot before in the London hours it round

tripped from a fresh high of $1.3246, amidst questions surrounding the level of

support for PM May's Brexit deal among the DUP/Tory Brexiteers, as well as the

odds of the deal being put to the vote at all.

- Worth noting Commons Speaker Bercow reiterated that he will not allow another

meaningful vote on the same Brexit deal, nor will he accept a "notwithstanding

motion" from the gov't, which would seek to circumvent his ruling.

- The rate then touched a fresh high of $1.3247 after PM May offered to resign

ahead of the next phase of Brexit negotiations, if MPs back her deal.

- Reports suggesting that some key eurosceptic Tory MPs may now support PM May's

deal lifted cable to $1.3269, before the DUP party reiterated its opposition to

May's divorce agreement, forcing cable into the red. Cable has extended losses,

as all 8 Brexit proposals facing parliamentary indicative votes were defeated.