It has been a relatively sedate start to FX...>

CABLE: It has been a relatively sedate start to FX trade this week, outside of

some early low liquidity swings in GBP/USD.

- Weekend news reports point to discontent re: PM May's Brexit plan from the

"hard Brexiteers" within the Conservative Party, with the PM's efforts to forge

developments via addressing individual EU member states rebuffed on the

continent.

- GBP/USD last trades at $1.3105, virtually unchanged on the session.

- Friday's rebound failed to overcome the $1.3130/33 area keeping the structure

of gains corrective and the overall bearish picture in place. The focus remains

on the lower end of the bearish channel, where the trendline intervenes at the

$1.2940 level. A move above the $1.3174 level is now needed to generate a more

positive near-term picture.

- The BoE MonPol decision dominates the UK docket this week.