Cable took a slight knock, comparatively......>

CABLE: Cable took a slight knock, comparatively speaking, Friday following the

release of stronger than forecast US NFP data, which provided a boost for the

USD. This boost was added to by the release of firm UofM. Cable had retested

Thursday's high of $1.3166 before dropping back to $1.3101. However, the

approaching UK General Election on Dec12 (with polls continuing to show PM

Johnson should be able to win with a working majority/ease Brexit process)

provided buoyancy, the dip attracting in demand which allowed rate to edge back

to $1.3144 ahead of the close. Rate touched $1.3116 in opening Asian trade only

to recover through the session to $1.3151 before it consolidated around $1.3145

into Europe. Strong demand greeted the rate into the European session, lifting

the rate through $1.3166, with suggested stop driven trade taking it on to

$1.3181 before momentum faded. Rate eased back to $1.3165, currently around

$1.3170. 

- Cable support $1.3110/00, $1.3080. Resistance noted between $1.3185/1.3200,

$1.3208/13, $1.3250/60.