Late Tuesday TD Securities wrote that "with...>

CABLE: Late Tuesday TD Securities wrote that "with Conservative MPs now free to

vote their conscience, markets may come to see tomorrow's ballot as containing a

higher probability that No Deal squeaks by than might otherwise be the case with

clear direction from the Government. We disagree with this logic, as the other

political parties remain lined up solidly against a No Deal outcome. That does

not mean, however, that these concerns may gain some traction in markets

near-term. With this in mind we are skewed to think sterling is likely to stay

relatively range-bound overall heading into Wednesday's vote. That said, we

think it will remain subject to whippy price action within it. If we had to pick

a side, however, we think bearish risks are closer to the surface for now. We

are better sellers of rallies than buyers of dips. If Tuesday's intraday high of

$1.3151 is broken, we think investors will be inclined to fade any further

advance toward the $1.3195/1.3200 zone. That region has served as a fairly

reliable pivot recently, in our observation. Turning lower, the $1.3050/55 area

could see some demand for cable emerge, but we think 1.3005 ahead of the recent

lows around $1.2950 should provide firmer support."