GBP/USD last trades flat at $1.3091 in the....>

CABLE: GBP/USD last trades flat at $1.3091 in the wake of the emergency EU

Council summit. According to the initial reports, EU leaders agreed for a delay

of UK's withdrawal from the bloc until Oct 31, with a review pencilled in for

June. EU Council Pres Tusk is meeting with PM May at typing. GBP has ignored the

news thus far, as an agreement to another extension has already been priced in.

- This occurs after cable advanced 39 pips yesterday. The pair had edged higher

into the European morning, before stronger than exp. UK data (including

industrial, m'fing & construction outputs, as well as GDP growth) triggered a

knee-jerk spike to $1.3085 and continued to support sterling thereafter.

- The London afternoon saw the pair dip to $1.3055 before recovering to a fresh

intraday high at $1.3120, and then paring some gains again, on the back of USD

gyrations ahead of the release of FOMC minutes.

- On the technical front, cable is charting a symmetrical triangle, suggesting

an imminent breakdown (https://emedia.marketnews.com/marketnewsintl/GBPUSD.png).

Above yesterday's peak would expose the triangle resistance at $1.3132.

Meanwhile, bears look for a fall towards the triangle support at $1.2999.