Rate continues to make decent headway.........>

CABLE: Rate continues to make decent headway having topped the overnight

Asia-Pac session high and the Monday highs at $1.2518/20. Original move higher

was triggered by large order flow evident in the spike in volumes at

1215BST/0715ET (over 1,000 contracts traded via CME futures inside 60 seconds -

the best volumes of the day and week).

- Stronger resistance is expected on the way into the July high at $1.2530 - a

level that today's rally has failed to take out.

- A rally north of $1.2530 opens $1.2599 initially before the 200-dma at

$1.2695. Recovery highs are just beyond at $1.2813.

- Focus turns to Wednesday's Summer statement from UK Chancellor Rishi Sunak,

who is expected to unveil short-term measures to prop up the UK economy that

could include cuts to sales tax rates and stamp duty levied on house purchases.