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GBP/USD has ticked higher and last trades.....>

CABLE
CABLE: GBP/USD has ticked higher and last trades at its lower 1.0% 10-DMA
envelope at $1.2710 after yesterday's choppy, Brexit-driven day saw the rate
finish 20 pips lower. Bears look to yesterday's low of $1.2685, bulls target
Monday's high of $1.2757.
- Cable slid into yesterday's European session, touching a fresh multi-month low
of $1.2685, pressured by USD demand & renewed Brexit uncertainty.
- However, comments from PM May's spokesman Slack put a bid into sterling around
the London noon. Slack said that PM May was to unveil the latest developments on
her withdrawal agreement later in the day. As a result, cable surged to $1.2745
before easing off.
- Around the London fix saw the rate surge to $1.2813, as BBG reported that PM
May was poised to offer MPs a vote on holding a second Brexit referendum.
- However, cable surrendered its earlier gains, as initial enthusiasm
evaporated. Labour Leader Corbyn said that his party wouldn't back May's deal
anyway, with backlash coming also from Tory Brexiteers.
- UK inflation data comes out later today, with retail sales due on Friday.

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