GBP continues to struggle alongside UK........>

CABLE: GBP continues to struggle alongside UK political uncertainty, with ever

increasing pressure on UK PM May from within the Tory party, and increased

speculation that 48 Tory MPs have submitted letters to the 1922 committee Chair

(which would trigger a confidence vote).

- May's journey to the continent Tuesday yielded no EU concession re: Brexit

matters, with top level diplomats offering to provide "greater clarification" on

Brexit matters.

- Elsewhere UK wage growth accelerated, but still remains below pre-GFC levels.

- Cable last $1.2503, after registering a low of $1.2480 Tuesday, a level not

seen since April 2017. The close below $1.2500 has bears looking to the April 10

2017 low at $1.2351. Bulls need to recover $1.2760 to change the short-term

outlook, targeting a break back above $1.2800 & the Dec highs at $1.2840.