Cable has edged lower and last trades at......>

CABLE: Cable has edged lower and last trades at $1.2708 after closing Tuesday

nearly unchanged on the day. 

- GBP/USD rallied in the London morning on the back of BBG headlines citing EU

court aide suggesting that Britain can revoke art. 50 unilaterally. However, the

move reversed thereafter, as cable was weighed by renewed dollar strength, and

UK PM May's office play down the suggestion from the ECJ aide. 

- The pair round tripped to session/fresh 2018 lows at $1.2659 after UK gov't

was found in contempt of the Parliament over its failure to publish Attorney

General's legal advice on PM May's Brexit deal with the EU. The pair then drew

support from another vote, which provides parliament with more powers if PM

May's Brexit deal is voted down. 

- Bears eye yesterday's lows and a break below that level would shift their

focus to the Jun 21/2017 low at $1.2589. Conversely, bulls need to retake

yesterday's highs of $1.2840 before targeting the Nov 29 high at $1.2850. 

- UK highlights this week include services & composite PMIs due later today.

Elsewhere, BoE's Ramsden and Broadbent are due to speak Thurs.