Cable has surged into the Asia open after.....>

CABLE: Cable has surged into the Asia open after the release of YouGov's MRP

election poll, which suggests that the Tories are headed for a comfortable

majority of 68 seats, with Labour set to significantly reduce their holdings.

The YouGov polling model previously accurately predicted the hung parliament in

2017 and has a reputation of faring better than the standard polls.

- GBP/USD last deals at $1.2935, 15 pips higher & off highs. The 50-DMA has just

crossed above the 200-DMA after breaching the 100-DMA in late Oct. Bulls need

cable to push above the Nov 18 high of $1.2985 before targeting $1.3013, the

multi-month peak touched on Oct 21. Bears look for a fall below the Nov 27/22

lows of $1.2827/24, which would open up the Nov 8 trough at $1.2769.

- The YouGov poll allowed GBP to finish atop the G10 pile Wednesday. Cable's

topside momentum was ignited in the London morning amid speculation re:

aforementioned MRP poll results & talk of month-end flows affecting the pair.

- Elsewhere, PM Johnson's aide Cummings has warned of the "very real

possibility" of a hung parliament as "things are much tighter than they seem."