GBP/USD last trades flat at $1.3212, after....>

CABLE: GBP/USD last trades flat at $1.3212, after adding 17 pips Tuesday.

- Cable posted a ~40 pip leg higher in early Asia-Pac trade on Tuesday, after

the Commons passed an amendment allowing MPs to take control of Wednesday's

parliamentary agenda, but the initial GBP strength gradually waned thereafter.

- The pair then bounced into the European session before comments from DUP's

Wilson, suggesting that his party will not back PM May's deal, triggered a

pullback to the intraday low of $1.3158.

- Subsequent comments from some key eurosceptic Tory MPs, who suggested that

they might support May's deal after all, prompted a rally through $1.3200, only

capped by $1.3262, before cable eased off towards the end of the day.

- On the technical front, consolidation above $1.3200, which also represents the

21-DMA, would allow bulls to target yesterday's high. Meanwhile, a return below

the figure would open up the 55-DMA, which limited losses yesterday.

- UK Q4 GDP (f) comes out on Friday, but Brexit matters will likely dominate,

with lawmakers set to proceed with indicative votes on a number of Brexit

options on Wednesday.