Late recovery Tuesday saw cable edge to.......>

CABLE: Late recovery Tuesday saw cable edge to $1.2871 before it closed around

$1.2865 into the close. Rate continued to drift lower in early Asia, traded in

tandem with EUR/USD, to an early low of $1.2847. Slight recovery to $1.2857

before fresh selling emerged to press rate through Tuesday's low of $1.2836 to

$1.2835. Move also took rate below a minor rising trend support line at $1.2840,

drawn off the Nov8 low. Positioning ahead of tonight's much anticipated YouGov

poll (2200GMT, sample 40,000) seen providing some negative weight on sterling.

Any tightening in the Conservative lead over Labour could provide further

negative weight on sterling. Traders also note that vote registration for the

Dec12 election closed yesterday and showed a jump when compared to the same

period in 2017. This could suggest a rise in younger voter participation which

could favour Labour. US Thanksgiving Thursday and Friday's month-end also in

play. Early models have suggested USD sales to be seen at the fixes, with

sterling a potential beneficiary. 

- Support $1.2824, $1.2800, $1.2778-69. Resistance $1.2867, $1.2908/12.