EU Barnier comments Monday that an initial....>

CABLE: EU Barnier comments Monday that an initial Brexit deal could be done

within 6-8 weeks boosted sterling, took cable to a high of $1.3052 with

corrective pullback able to hold above $1.3000. Rate settled around $1.3025 into

Monday's close. Early Asia saw consolidation between $1.3020/30 but underlying

tone remained buoyant, early Europe edging the rate up to $1.3049. Resistance

remains around $1.3050, a move above to expose next resistance between

$1.3065/70. Support $1.3020, stronger into $1.3000. UK Employment Report for

July at 0830GMT. This comes after yesterday's strong July GDP reading. The

unemployment rate of 4.0% from June is expected to remain unchanged in July.

Average weekly earnings are expected to remain unchanged from 2.4% 3M y/y in

June, however stripping out bonuses sees core earnings expected to pick up from

2.7% in June to 2.8% in July, again on a 3M y/y basis.