GBP has started the week in resilient......>

STERLING: GBP has started the week in resilient fashion. Cable trades unchanged

around 1.3930, with EURGBP a tad softer at 0.8810.

- The well documented Irish border issues continue to hang over this week's

Brexit summit. The discord within UK parliament bubbled over the weekend as the

majority of the all-party Brexit Select Committee of MPs on the progress of the

UK's negotiations on EU withdrawal backed the idea of extending the Brexit

transition period if more time is needed to agree a UK-EU trade deal.

- The UK economic docket is packed tight this week, with the BoE MonPol

decision, inflation data, retail sales, labour market report & public finances

all due.

- GBPUSD upside interest is clustered around 1.40 the figure. 1.3988 represents

the Mar 15 high, then 1.3996 represents the Mar 14 high, before we run into the

Feb 27 high at 1.3997 and then the figure. To the downside the 50-DMA sits at

1.3917 and then 1.3890 represents Friday low, with the 50 retracement of the

1.3782-1.3996 move at 1.3889.