GBP/USD has added ~10 pips thus far, last.....>

CABLE: GBP/USD has added ~10 pips thus far, last trading at $1.2733. This comes

after the rate followed broader USD gyrations Friday, ultimately closing 95 pips

higher on the day. Stronger than exp. UK services PMI day had supported in the

London morning Friday.

- The weekend saw comments from UK PM May, as she noted that the UK would be in

"uncharted territory" if MPs reject her Brexit deal & refused to rule out

bringing the deal back to Parliament multiple times. The Independent

subsequently reported that MPs believe "parliamentary rules will prevent May

bulldozing her Brexit deal through by staging multiple repeat."

- With the Commons reconvening after the Christmas break focus will return to

the Brexit debate. In terms of timelines, May continues to point towards a vote

on her Brexit deal at some point next week. On the economic release front,

activity & trade data for Nov will hit Friday, alongside the Nov GDP release.

Worth noting that BoE Gov. Carney will conduct a Q&A session on Wednesday.

- After the close above $1.2700, bulls look to the 50-DMA at $1.2771, while

bears need a move back below $1.2600 to regain momentum.