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

CABLE: Cable has edged lower and last trades at $1.3261 after adding 13 pips

yesterday. The pair rose to intraday highs of $1.3311 in the European morning,

amidst reports re: EU leaders planning a contingent offer for Brexit delay,

against the backdrop of a strong UK labour mkt report. Subsequent pullback to

intraday lows of $1.3241 stemmed from hawkish comments re: Brexit coming from

the French Presidency.

- PM May is now left with the task of making the case for an extension to Art.

50 to the EU leaders, as well as appeasing rebellious Tory Brexiteers,

reportedly trying to prevent a long Brexit delay. Worth mentioning EU chief

negotiator Barnier said that any Brexit delay must "serve a clear purpose."

- Bears look for a breach of yesterday's low before challenging the 100-WMA at

$1.3221. Meanwhile, initial resistance was noted at $1.3264, which represents

the 100-HMA, breached today. A break above would open up the $1.3300 figure.

- UK inflation data takes focus today, while retail sales and BoE MonPol

decision are due Thursday. Needless to say, Brexit matters will likely dominate,

with PM May set to attend a summit with EU leaders on Thursday.