Cable last deals at $1.2750, 25 pips higher...>

CABLE: Cable last deals at $1.2750, 25 pips higher on the day, lifted by broader

USD weakness over the last couple of hours. 

- GBP/USD slipped some 30 pips in early indicative trade as markets absorbed

Brexit-related news flow from the weekend. Reports suggest that PM May is facing

a serious leadership challenge ahead of Tuesday's vote on her Brexit deal in the

Commons, with many looking for a delay of the vote to avoid a "near-certain"

defeat for the PM, although number 10 has reiterated that the vote is scheduled

to go ahead. Some reports have suggested that May could make a trip to Europe

this week, to meet with her EU counterparts. Worth noting that the ECJ will give

its ruling re: if Article 50 can be reversed, later today. 

- Bulls look to a break above Friday's high at $1.2797 before challenging the

21-DMA at $1.2805. Meanwhile, bears need a clean break of Friday's low at

$1.2727 before targeting the Dec 6 low/psychological level of $1.2700. 

- The releases of UK trade balance & production figures today, as well as labour

mkt data tomorrow will be of interest, but are likely to be overshadowed by

Brexit matters.