Cable was pulled lower by EUR/USD's lead......>

CABLE: Cable was pulled lower by EUR/USD's lead slippage, the rate extending its

post FOMC low to $1.3075 ahead of Thursday's close, while EUR/GBP also extended

its corrective pullback to Gbp0.8885. Cable marked a slight extended low of

$1.3073in early Asia but slowly nudged its way up to $1.3090 into early Europe,

only to get a mild knock back to current level around $1.3076. Moves continue to

be dictated by EUR/USD action as EUR/GBP holds back below Gbp0.8900, having seen

a recovery high in late NY of Gbp0.8914. UK Final Q2 GDP set for release at

0830GMT, expectations that 0.4%qq, 1.3%yy to be confirmed. Month end and could

see some EUR/GBP emerge though this could be countered by suggested cable demand

for month-end as well as sterling positive M&A interest which has been relevant

through the week. Support remains into $1.3070 ahead of $1.3055/50. Resistance

$1.3090, $1.1310.