Cable last trades at $1.3110 after............>

CABLE: Cable last trades at $1.3110 after advancing ~60 pips on Tuesday, mostly

on the back of news flow re: Brexit. 

- The rate did experience a pullback during the London morning after Brexit

optimism was tempered by the DUP chief whip saying we are prob. heading for a

no-deal Brexit. However, cable quickly recouped losses as UK Brexit Min Raab

gave a "thumbs up" on his way out of a cabinet meeting. UK PM May is allegedly

going to ask for cabinet approval of a draft Brexit deal within days, with the

BBC reporting that ministers want a deal in place by the end of November. 

- EU's Barnier stressed the need for further progress on Tuesday. 

- A break above the key $1.3100 level allows bulls to continue to target an

upside move, with focus now on the 76.4% fibo at $1.3125, followed by the Oct 16

low at $1.3141. Bears need a return below $1.3100 to open up yesterday's lows of

$1.3021. 

- All eyes are now on the results of the ongoing U.S. Mid-term elections, as

polls have started to close. Later in the week, focus falls on the release of UK

production figures, trade balance & GDP due Friday.