On Thursday GBP/USD suffered from.............>

CABLE: On Thursday GBP/USD suffered from indigestion upon the release of the

UK's no deal Brexit preparation papers, allowing EUR/GBP to comfortably recover

back above the GBP0.9000 level.

- It is also worth noting that UK C'llr Philip Hammond was accused of

undermining UK PM May's Brexit strategy after warning that leaving the EU

without a deal will have "large fiscal consequences" for Britain," which added

additional pressure to the rate.

- Cable had a brief look below $1.2800 in early Asia-Pacific dealing. But has

steadied, to last deal unchanged at ~$1.2810.

- From a technical perspective bears' focus now returns to $1.2750, with a break

opening up a move to the Aug 15 low ($1.2662). Initial support is located at the

Aug 16 low ($1.2794). To the upside, the Jul 19 low ($1.2958) remains key for

bulls.

- There is little in the way of tier 1 UK economic releases over the next week

or so, so GBP participants will be on the lookout for developments re: Brexit &

the broader USD theme.