GBP/USD has started the week on the...........>

CABLE: GBP/USD has started the week on the defensive as uncertainty has returned

with British parliament failing to pass the Brexit bill. The pair has dropped

under the $1.2900 figure and remains heavy.

- Cable sits 94 pips lower at $1.2890, but still operates within Friday's range.

A dip below the 23.6% retracement of this month's bullish move at $1.2805 would

please bears, while bulls target the recent multi-month high of $1.2990.

- PM Johnson's plans to get the new Brexit deal through the House of Commons

during Saturday's special sitting were derailed, as lawmakers passed the "Letwin

amendment," withholding approval of the deal until relevant legislation is

passed. As a result, the gov't sent a formal letter to Brussels requesting a

Brexit delay, in compliance with the Benn Act. The letter was not signed &

accompanied by a note saying that the PM will not negotiate further extension.

- The gov't is set to try and bring back a vote on the Brexit bill later today.

Meanwhile, the EU's response to PM Johnson's letter(s) is still awaited. Per the

Times, a delay will be granted, if the PM is unable to convince MPs this week.

- Apart from Brexit matters, BoE's Haldane will speak later today.