Cable trades at $1.2885 in early Asia-Pac.....>

CABLE: Cable trades at $1.2885 in early Asia-Pac dealing, consolidating after a

~100 pip fall in Wednesday's session. 

- The pair moved lower as sterling suffered from prolonged political uncertainty

re: Brexit & a largely firmer USD against a risk off backdrop. However, worries

around PM May's meeting with the hardline Brexiteer 1922 Committee were

seemingly misplaced, as former Home Sec. Amber Rudd declared PM May's position

at the head of the Tory party safe, while the 1922 meeting was deemed a

"love-in" by some. 

- The close below Oct 4 lows of $1.2922 allows bears to focus on the 61.8%

retracement from 2016 lows to 2018 highs at $1.2810. Bulls initially look to

reclaim the 50-DMA $1.3020 In order to regain momentum, bulls need to retake

trendline resistance at $1.3021. 

- UK focus this week falls on UK sovereign debt ratings assessments from Fitch

and S&P due Friday, as well as any further Brexit fallout.