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Early upside pressure in sterling.............>

CABLE
MNI (London)
CABLE: Early upside pressure in sterling eventually ran into a wall at $1.3450,
after rate cleared above the NY-Asia high of $1.3404. Eur/Gbp also met strong
support again at the Gbp0.8867 level (NY low/Jun12 high) which helped to cap
sterling gains. Cable currently trades around $1.3437. BOE MPC Vlieghe due to
speak at 0850GMT. A known 'dove', traders will be watching for any change in
view, even if slight. Above $1.3450 expect some resistance around $1.3480
through to a highlighted barrier at $1.3500. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

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