GBP not having a good start to the week,......>

CABLE: GBP not having a good start to the week, edging closer to the $1.21

handle as volumes pick up after the London open. Last week's lows already taken

out here, with bears turning focus to the Aug20 low at $1.2065, with the YTD low

within range at $1.2015. Brexit newsflow remains far from promising, with

political unrest expected in the coming fortnight as a number of Conservative

MPs declare they will vote against the government despite threats of deselection

in the next General Election (which could come as soon as November).

-The option expiry schedule is relatively light today, but picks up later this

week with option interest as low as $1.18 rolling off tomorrow (Gbp491mln).