Cable last trades almost flat at $1.2889......>

CABLE: Cable last trades almost flat at $1.2889 after advancing 37 pips Tuesday,

amidst broader USD weakness. Yesterday, the press reported that PM May's chief

negotiator was overheard by an ITV journalist suggesting that Brussels will

probably grant the UK an extension of Art. 50. He also noted that parliament is

faced with a choice of May's deal or a long delay re: Brexit. Elsewhere, the Sun

reported that a cross-party group of MPs is preparing a bill that would force

the gov't to postpone Brexit, should PM May fail to pass her deal within 30

days. This came after PM May appeared in the House of Commons, asking for more

time to negotiate with the EU and reiterating her prior commitment to deliver

Brexit by March 29. BoE Gov Carney spoke yesterday, stressing that the U.K.'s

slower than exp. economic growth underscores the need for more Brexit certainty.

- Initial resistance is located at yesterday's high of $1.2909, followed by the

Feb 8 low of $1.2921. Meanwhile, bears look for a fall below the 100-DMA at

$1.2881, which would open up the lower 1.0% 10-DMA envelope at $1.2834. 

- UK focus turns to domestic CPI due later today (see MNI Main Wire at 08:38 GMT

02/12) & retail sales due Fri. Elsewhere, BoE's Vlieghe will speak Thurs.