GBP/USD holds steady at $1.2129 after.........>

CABLE: GBP/USD holds steady at $1.2129 after shedding 23 pips yesterday.

- The pair eked out some gains in the second half of yesterday's Asia-Pac

session before wiping them out as London traders came in. Weekend news flow did

little to improve outlook, as it highlighted the threat to the UK economy from a

disruptive Brexit. However, the $1.2100 figure remained intact and cable bounced

from lows thereafter, recovering to $1.2158 before a stronger USD dragged it

slightly lower into the close.

- Support noted at the 200-HMA at $1.2100; resistance at the 21-DMA at $1.2186.

- UK PM Johnson wrote a letter to EU Council Pres Tusk, reiterating that the

Irish backstop needs to be scrapped and could be replaced by a legally binding

commitment not to set up infrastructure or carry out checks at the Irish border,

provided that Brussels makes the same pledge. The Guardian's EU sources once

again ruled out reopening negotiations on the current withdrawal agreement.

- The White House said that U.S. Pres Trump spoke with UK PM Johnson ahead of

their upcoming meeting at the G7 summit. Elsewhere, the Sun reported that

Johnson told trade ministers to leave NHS out of trade talks with the U.S.