Cable last seen at $1.2920, 4 pips better.....>

CABLE: Cable last seen at $1.2920, 4 pips better off. This occurs after the rate

added 17 pips on Friday, mostly owing to softer greenback. Although the rate

spiked to its intraday low of $1.2876 on the back of better than exp. U.S. GDP,

it wiped out losses and advanced thereafter, as the breakdown data proved weak.

- Cross-party Brexit talks are set to continue this week, with PM May still

hoping to avoid the UK taking part in the May 23 European elections.

- Bulls need to retake the 200-DMA/100-DMA at $1.2960/67 before targeting the

triangle resistance at $1.3005. Above here would suggest an upside reversal. On

the downside, focus falls on the $1.2900 mark, breached on Friday. Below would

expose the 1.0% 10-DMA envelope at $1.2833, where cable bottomed on Feb 12.

- On Thursday, the BoE will deliver its MonPol decision, with the Bank's

inflation report due to be released at the same time. A press conference with

Gov Carney will follow. Elsewhere, attention will be drawn to UK m'fing &

services PMIs, due Wednesday & Friday respectively. House prices come out on

Wednesday, as do mortgage approvals. BoE Gov Carney will speak later today,

while his deputy Ramsden will appear on Tuesday.