Early Asia-Pac trade saw cable touch..........>

CABLE: Early Asia-Pac trade saw cable touch reaction lows of $1.3031 after all

four Brexit proposals voted upon in the second round of parliamentary indicative

votes were defeated. GBP/USD last seen at $1.3064, ~40 pips worse off.

- The rate finished 68 pips higher Monday, despite ebbing lower from off.

Recovery through the London/NY sessions was aided by positioning ahead of the

Commons' Brexit votes, as market perception moved toward a soft Brexit & away

from no-deal. Strong UK m'fing PMI also provided support, albeit data breakdown

revealed that much of the PMI boost was down to pre-Brexit stockpiling.

- Elsewhere, ITV's Peston reported that up to 200 Tory MPs signed off on a

letter calling for a "managed" no-deal Brexit.

- After the rate tested the water below $1.3000, bears look for a dip through

the figure, ahead of the 200-DMA at $1.2976. Meanwhile, bulls look for retaking

yesterday's peak of $1.3150, located just above the 200-HMA.

- UK construction and composite/services PMIs come out on Tuesday and Wednesday

respectively, but Brexit matters will remain in the spotlight, with PM May set

to convene a cabinet meeting on Tuesday.