Failure to get the MV2.5 passed by............>

CABLE: Failure to get the MV2.5 passed by Parliament provided the react weight

to take cable through $1.3000 support before finding support at $1.2978, the

200-dma sitting just below at $1.2977. First reaction suggested that all bets

were turned toward a no-deal situation for Apr12. However, with a clear majority

in Parliament against no-deal, and more votes are planned for Monday for

alternative plans, PM May said the UK would have to find 'an alternative way

forward'. Chance now that the UK would take part in European elections, also

that PM May could step down. No mention so far of a General Election in the

offing. Cable recovered, meeting headwind resistance toward $1.3050 which capped

move at $1.3047. Rate currently trades toward $1.3000. 

- Support remains at the 200-dma $1.2977 ahead of $1.2950($1.2949 Mar11 low).

Resistance $1.3050, $1.3100-10. 

- UK Manufacturing PMI due 0830GMT/0930BST (clocks in Europe go forward 1 hour

this Sunday).