Earlier release of stronger than forecast.....>

CABLE: Earlier release of stronger than forecast flash PMI data provided

sterling with a fresh bid impetus, which, along with continued sell pressure on

USD/JPY, saw cable push through its earlier Asian high of $1.2773 to $1.2795 in

NY. Corrective pullbacks so far hold above the recent highs of $1.2773 and

$1.2768 with technical traders seeing the Jun10 high of $1.2813 exposed. Talk of

resistance placed around this level, between $1.2810/20, a break to open a move

toward $1.2850($1.2849 Mar12 high). Support now seen at $1.2820 ahead of

$1.2780/70. A fairly quiet week for UK data. FOMC looms Wednesday but most think

it will prepare markets for the more important September meeting. Month-end

approaching(Friday), chance we could see some month-end value date action from

Wednesday.