Cable last trades flattish at $1.3133,........>

CABLE: Cable last trades flattish at $1.3133, after adding 25 pips Tuesday.

- The rate rallied late doors on Tuesday as PM May emerged from a seven hour

cabinet meeting, outlining a new cross-party Brexit approach and inviting the

opposition Labour Party for discussions on a workable Brexit solution.

- This came after a selloff noted in yesterday's NY/Asia crossover on the back

of the fact that none of the Brexit options voted upon found enough support in

the Commons. Subsequent recovery was capped at $1.3086 before the European hours

saw cable ease to a fresh intraday low of $1.3014, as participants struggled for

clues re: the future of Brexit.

- Bulls look for a breach of the $1.3150 mark, which has capped gains for the

last two days. Conversely, initial focus falls on the 50-DMA at $1.3098.

- Worth noting on Wednesday the Commons will debate a bill tabled by Tory Letwin

& Labour's Cooper, which would force the PM to seek a further extension to Art.

50, but focus will likely fall on the aforementioned cross-party talks.

- UK services & composite PMI gauges come out on Wednesday.