It was a choppy Wednesday for GBP/USD. The....>

CABLE: It was a choppy Wednesday for GBP/USD. The ERG standing behind PM May and

comments from EU's Juncker during Wednesday's European morning that were viewed

as supporting the recent softer Brexit tone from EU's Barnier helped to buoy

cable. The USD then recovered on BBG source reports which suggested that the ECB

may trim its growth outlook on Thursday.

- Soft U.S. PPI data began to weigh on Cable before a BBG sources piece

suggesting that "EU officials are starting to redraft the language on the

so-called Irish "backstop," in an attempt to make it more acceptable to the U.K.

But the British side will also need to make concessions," allowed GBP/USD to

print a session high of $1.3079.

- Rate last deals at $1.3045. Initial resistance noted at Tuesday's high

($1.3087). A successful move above here opens up the 100-DMA ($1.3186). Bears

need a close back below $1.30 to suggest the recent gains mark a false break.

- BoE MonPol decision headlines on Thursday, while the Telegraph has reported

that Brexit Sec Raab will tell EU chief negotiator Barnier that "there is no

deal without the whole deal" when the 2 meet later today,