Cable struggled to hold recovery gains........>

CABLE: Cable struggled to hold recovery gains above $1.2200 Tuesday, the rate

rejected initially from $1.2210 in Europe, then $1.2208 in early NY before it

fell back to a post fix low of $1.2137. However, rate was able to perform a

partial recovery in the close to $1.2170. This upside correction extended on to

$1.2191 in early Tokyo before it reversed back to $1.2156. Recovery efforts

ahead of Europe topped out around $1.2172 before coming under renewed downside

pressure which has extended the intraday low to $1.2152. Expect some minor

support into $1.2150 ahead of Tuesday's low of $1.2137, $1.2120, stronger into

$1.2100. Resistance $1.2190, stronger between $1.2200/10, a break to expose

$1.2250. 

- A light UK data calendar for Wednesday. US-China trade spat and Brexit speak

to provide drivers.