Parliament approval of PM Johnson's...........>

CABLE: Parliament approval of PM Johnson's Withdrawl Bill Friday, along with

release of better than forecast US Personal Spending data, provided the impetus

to press cable to an extended low of $1.2979, off its initial election high of

$1.3514(Dec13). Rate performed a slow recovery through Asia, the rate touching a

high in opening Europe of $1.3024 but quickly ran into headwind sellers. Rate

currently trades around $1.3007. Christmas markets expected to make liquidity

thinner than it usually is with orders likely to have a higher volatile effect.

Interesting to note that Friday's downside pressure was led by USD strength

though cable's move trailed that of EUR/USD, allowing in turn to press EUR/GBP

back within its 1.0% 10-dma envelope. The cross closed the week back within and

so far holds in early trade(1.0% 10-dma envelope top Gbp0.8545). 

- A light UK data calendar for Monday. Political comment on Brexit trade

negotiations becomes key driver. 

- Cable support $1.3000, $1.2980, $1.2950. Resistance $1.3020/25, $1.3050,

$1.3080.