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Rallied to an extended recovery high of.......>

MNI (London)
CABLE: Rallied to an extended recovery high of $1.2151 into early NY Thursday,
the move up aided by the release of stronger than forecast UK Retail Sales,
along with reports that UK lawmakers are set for a parliamentary battle
for/against a disruptive No Deal Brexit. Dovish comments from ECB Rehn also
boosted sterling via EUR/GBP as the cross broke under Gbp0.92 to Gbp0.9155, the
rate holding below Gbp0.92 into the close. Cable drifted lower through the
balance of the NY session, getting an added shove lower to $1.2078 into the
close/Asia open as early Asian markets reacted to report Boris Johnson poised to
trigger repeal of European Communities Act. Rate recovered to $1.2094,
eventually bringing pressure to bear on $1.2100 into early Europe before it
pushed on to $1.2122 where it met resistance (NY hourly high). 
- Light data calendar for the UK Friday. Focus on Brexit developments/headlines.
- Support $1.2080, $1.2050. Resistance $1.2122, $1.2150.  
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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