Little reaction to release of UK lending......>

CABLE: Little reaction to release of UK lending data with more focus set on

Brexit developments following reports that a deal on the financial side had been

agreed. Cable saw an extended react high of $1.3431 in early Europe, after rate

had spiked up from Tuesday's low of $1.3222 to $1.3388 on the initial report. No

fresh news has prompted some profit take paring of long sterling positions,

cable trading back around $1.3400. Eur/Gbp saw a low of Gbp0.88385 before it

bounced back to the Gbp0.8860, any sharp upside moves in the cross will prompt

suggestion of end month European sovereign demand (account purposes), though

bank models suggest that end month fixes should see decent demand for cable that

should more than counter. Cable resistance now seen at $1.3431 ahead of the area

around $1.3450. Support $1.3390/85 ahead of $1.3350.