Cable was pressed to an extended YTD low of...>

CABLE: Cable was pressed to an extended YTD low of $1.2202 during the NY

afternoon Monday, closing the day at $1.2271. Consolidation through Asia, with

little in the way of recovery momentum, saw rate held within a range of

$1.2234/73 but was seen under fresh negative pressure into Europe (though mild

compared to recent sessions) which sees rate pressed down to $1.2215. Rate

currently trades around $1.2234. Sterling remains vulnerable, MNI Techs note

that GBP/USD remains under pressure following last week's sharp sell-off and the

break of key support at $1.2726(Feb28 low). The move confirmed a resumption of

the

down leg that has been in place since Dec13. The break paves the way for a test

of $1.2195 next(Oct8 2019 low). A deeper sell-off would open $1.2079(Sep4 2019)

low ahead of the psychological $1.2000 level. The breakout level at $1.2726

marks a key resistance. Initial firm resistance is $1.2624.

- UK Employment Report due at 0930GMT provides data interest, though

overshadowed still by COVID-19 spread reports and Government actions to counter

the economic effects.