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Cable last trades flat at $1.3037 after.......>

CABLE: Cable last trades flat at $1.3037 after finishing 39 pips lower on
Friday. Bulls look to the 50-DMA & 50-DMA, which coincide at $1.3094, while
bears eye the lower Bollinger band (2%) & 200-DMA, both at $1.2974.
- GBP/USD caught a bid in Friday's Asia-Pac session, as EU Council Pres Tusk
proposed to offer the UK a 12-month "flexible" Brexit delay. Resultant sterling
demand carried over into the (early) European morning.
- Nonetheless, cable pared its earlier gains in the London & NY sessions, as it
fell on the back of the NFP report from the U.S., which buoyed the greenback in
spite of mixed breakdown data, and then again around the WMR fix.
- Subsequent comments from Labour Party's spokesman, who expressed
disappointment that the gov't has not offered "real change or compromise" in
cross-party Brexit talks, pressed the rate below the $1.3000 mark. This was
followed by gradual recovery towards the close.
- Worth noting PM May said she now can't see the Commons accepting her deal.
- UK GDP, trade balance & industrial output are due Weds, but will likely be
overshadowed by an emergency EU27-UK Brexit summit, also on Weds.

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