Cable was pressed to a low of $1.2990.........>

CABLE: Cable was pressed to a low of $1.2990 Thursday. Cable had posted a high

of $1.3133 into the BOE MPC announcement but accompanying comments next move in

rates would be data and global growth dependent seen leaving door open to rate

cuts in 2020. Break below recent lows of $1.3060/51 accelerated move lower,

eventual show under $1.3000 took rate to $1.2990 into the fix before it bounced

to $1.3042. Rate struggled to hold recovery gains and eased to $1.2997, closed

at $1.3011. Sterling performed a slow recovery through Asia, edged to $1.3029

with early Europe extending this move to $1.3037. Focus will be on the debate in

parliament for PM Johnson's Withdrawl Agreement Bill, introduced Thursday, which

prohibits extending the transition period beyond the end of 2020. Sell the

rumour, buy the fact? Lot of bank commentary Thursday suggesting buying the

sterling dip. UK GDP and borrowing data at 0930GMT. BOE Haskel (dove) speaks at

1100GMT(MPC dissenter in 7-2 vote split). Press reports suggest Andrew Bailey to

be announced as Carney's replacement. 

- Cable support $1.30/1.2990, $1.2970, $1.2950. Resistance $1.3042, $1.3050/60,

$1.3087.