Cable managed to extend its recovery off......>

CABLE: Cable managed to extend its recovery off Monday's Speaker react low of

$1.3185 to $1.3311 during the European morning Tuesday as markets were kicked

higher by reported comments from the EU concerning an extension to Article50 (EU

leaders said to plan contingent offer for Brexit extension. Extension would be

finalized in days before Mar29. EU plan allows for PM May to try to get deal

through next week). Rate eased off to $1.3241 in a USD led move in early NY

before rate settled around $1.3270 after the Europe close.

- UK Inflation numbers provide the domestic data interest Wednesday, but

influences from Brexit headlines/developments and the later FOMC announcement

expected to provide the main sterling drive.

- Support $1.3245/40, $1.3200 ahead of $1.3185. Resistance $1.3311, $1.3331,

$1.3350.