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Rate breaks down further, slipping through....>

CABLE
CABLE: Rate breaks down further, slipping through the European morning's lows of
$1.2627 to turn attention to the NZ open lows of $1.2615. Any fall through here
would open a move toward the Friday low at $1.2559 and the lower 1.0% 10-dma
envelope at $1.2531. Rate now edging toward some of the larger option interest
in GBP/USD today at $1.26, with Gbp268mln due to roll off at that level.

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