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GBP/USD has ticked higher and last sits at....>

CABLE
CABLE: GBP/USD has ticked higher and last sits at $1.3009, 11 pips higher on the
day. Bulls look to the nearby 100-DMA/21-DMA at $1.3010/11. Above here opens
$1.3050, which capped gains on Apr 30 & May 10. On the downside, the initial
focus falls on the 200-DMA at $1.2958, which coincides with the Feb 13 high.
- Sterling was one of the worst G10 performers on Friday, as Tory-Labour Brexit
talks were largely perceived to be faltering. The release of strong UK
industrial production, private consumption, business investment figures was
somewhat countered by disappointing exports, imports & construction, while
headline GDP met expectations. Cable failed to garner any considerable upside
momentum and after topping out at $1.3048 pre-WMR fix it faded into the close.
- On Sunday, No. 10 pledged to reopen negotiations with Brussels in order to
revive cross-party talks with Labour. PM May would like to explore rewriting the
agreement on future customs ties with the EU in a bid to take Labour on board in
delivering Brexit before summer.
- UK labour mkt data, due Tuesday, provides the focal point of the week. BoE's
Haskel (MPC) speaks on Thursday, while BoE's Brazier (FPC) appears on Friday.
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