Cable trades virtually unchanged at $1.2216...>

CABLE: Cable trades virtually unchanged at $1.2216 after giving away 50 pips

yesterday, with liquidity thinned by a UK bank holiday. The rate slid into

yesterday's London morning, as U.S. Pres Trump's positive comments re: trade

relations with China boosted USD. Aforementioned losses were extended pre-WMR

fix and largely held at the end of the day.

- A break above the upper Bollinger bond (2%) at $1.2266 would draw bullish

attention to last Friday's peak at $1.2294. Conversely, a retreat under the

$1.2200 barrier would open up the 200-HMA at $1.2165.

- French Pres Macron noted that Brexit wasn't a subject matter of the G7 summit

talks, adding that "we are close" to a no-deal Brexit. Nonetheless, UK PM

Johnson held some Brexit discussions at the sidelines, earning praise from U.S.

Pres Trump & meeting with the leaders of Australia & Egypt.

- The Telegraph reported that Johnson will send a "Brexit sherpa" to Brussels

today to discuss alternatives to the current Brexit deal with EU officials.

- Little in the way of major data releases on the UK docket this week. BoE's

Tenreyro will speak on a panel alongside ECB Vice Pres de Guindos later today.