Cable retains an underlying buoyant tone......>

CABLE: Cable retains an underlying buoyant tone provided by general risk

appetite and despite the knock back in Brexit negotiations PM May suffered in

Salzburg Thursday. Cable rally faltered just ahead of $1.3300 Thursday, touched

$1.3298 before it pulled back to $1.3227 through the London Fix before it

recovered to settle around $1.3275 into the close. Consolidation in Asia between

$1.3261-77. Some suggestion that current sterling buoyancy being aided by the

bid interest for SKY TV. 21st Century Fox and Comcast are both vying to take

control of Sky and if no deal has been agreed by 1700BST today it will move on

to an auction process into Saturday. Sky valued at around Gbp26bn. Brexit

remains key but interesting that negative headlines only bruising the current

sterling buoyancy while positive headlines on negotiations toward a Brexit deal

have more of an effect(despite hurdles most seem to agree that a deal can be

hammered out and if so would that bring in the timing of the next BOE hike?).

Cable resistance remains into $1.330, a break to expose $1.3320. Support

$1.3230/20.