Extended its slow corrective pullback from....>

CABLE: Extended its slow corrective pullback from Thursday's high of $1.2354 to

a low Monday of $1.2234. However, release of better than forecast UK GDP, and

mild positive sound bites from PM Johnson's meet with Ireland Vradkar, provided

sterling with a renewed lift which took cable to $1.2385. Sterling struggled to

hold gains, dipped back to $1,.2317 before it bounced to $1.2374, settling

around $1.2345 into the close. Traders have noted the poor liquidity in sterling

pairs with orders able to over influence. In Asia cable was contained within a

range of $1.2336-57, early Europe so far continuing the consolidation. 

- UK Jobs report at 0830GMT. Employment expected to remain firm, more attention

set on wages. 

- Cable support $1.2336, $1.2317, $1.2300. Resistance $1.2375-85, break to

expose $1.2400.

- Traders aware that $1.2300 holds strikes for Gbp1.86bln of expiries for

today's NY cut, Gbp1.1bln Gbp calls.