Found decent support at $1.3055 Wednesday.....>

CABLE: Found decent support at $1.3055 Wednesday (tested twice) before rate

pushed up to $1.3120 in a mix of USD softening ahead of FOMC Minutes release and

the emergency EU Brexit Summit got underway. No major surprises in the Minutes

allowed the USD to pare some of its pre release losses which took cable back to

$1.3082. Rate made a brief show back above $1.31 before it settled around

$1.3087 into the close. Summit announced an agreement to allow the UK to extend

Article 50 out to Oct31(date seen as a compromise between Germany and France,

coming as it does before a new European president is put in place), with a

review at the end of June. Sterling picked up mild demand in Asia which allowed

rate to edge to $1.3109 ahead of the European open. Early Europe has since

pressed rate back to $1.3078. Support seen into $1.3077 ahead of $1.3055/50 and

$1.3030. Resistance $1.3120/30. A lite data calendar this morning with attention

on US Initial Jobless Claims and PPI at 1230GMT.