GBP has had little reaction the latest........>

CABLE: GBP has had little reaction the latest round of Brexit headlines, and has

paid more attention to the broader backdrop of USD strength, with cable last 25

pips or so lower at $1.2885. The Times reported that Brexit Sec. Raab will state

that "Brussels is being irresponsible by refusing to help to limit the impact of

a no-deal Brexit," as he raises the stakes by releasing detailed contingency

plans for a disorderly split later today. Elsewhere the Telegraph reported that

"British businesses will be required to treat EU nations as "third countries" in

the event of a no deal Brexit, declaring all imports from the continent and

paying customs duties."

- From a technical perspective GBPUSD's failure to close above $1.29 returns the

short-term picture to a more neutral footing. Bulls continue to target the Jul

19 low ($1.2958), ahead of the key $1.30 psychological level. Bears need to

break back below $1.2750 to return the focus to the downside and challenge the

Aug 15 low ($1.2662).

- There are no tier 1 data releases from the UK over the next week or so, with

focus set to continue to fall on Brexit matters & the broader USD theme.