GBP/USD has edged higher and last trades at...>

CABLE: GBP/USD has edged higher and last trades at $1.3057 after closing 9 pips

worse off Tuesday. Bulls look to the 100-HMA/200-HMA at $1.3075/82, while bears

eye yesterday's/Monday's low of $1.3031/27.

- Cable rose through Tuesday's Asia-Pacfic session, as the passing of the

Letwin-Cooper Bill forcing the gov't to avoid a no-deal Brexit, ignited the

upside momentum. In the London hours, the rate rallied to the intraday high of

$1.3122, as BBC's Newsnight reported that German C'llr Merkel is willing to

attach a five year time limit on the Northern Ireland backstop. However, cable

promptly wiped out gains, as the spokesman for the German gov't denied reports,

and ebbed to its intraday lows post-WMR fix.

- UK PM May is set to attend an emergency summit with EU leaders on Wednesday,

as she seeks another extension to Article 50. European Council Pres Tusk

suggested that the UK could stay in the EU for up to a year on "flexible" terms.

- Elsewhere, the Commons backed the PM's request for a Brexit delay until June

30, while cross-party Brexit talks failed to produce any breakthrough.

- UK trade balance, industrial/m'fing production & monthly GDP data is due Weds.