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

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.