Recovery off Friday's pullback low of.........>

CABLE: Recovery off Friday's pullback low of $1.2521 extended to $1.2579 ahead

of the close. Volatile open in a Japan holiday thinned session saw rate mark

lows of $1.2550, high of $1.2582 before market settled. Rate eased from $1.2578

to $1.2559 before edging its way back around $1.2570. USD seen trading on the

soft side, a result of recent dovish Fedspeak, which is helping to keep sterling

buoyed off its last week lows of $1.2440. EUR/GBP seen back around its 10-dma,

currently at Gbp0.8974, and not providing any inspiration. Resistance now seen

into $1.2580, a break to expose the Jul5 high of $1.2588 ahead of $1.2600(Jul3

high). Friday's break above the falling downward trendline, drawn off the Jun25

high, seen helping to keep cable buoyed, the line today coming through at

$1.2555, just ahead of the earlier low of $1.2550. Break here to open a deeper

corrective pullback toward $1.2520.

- Attention has eased away from Brexit, though remains in the background, with

more attention this week on UK data, especially with the shift to a dovish

stance from the BOE. Tuesday brings Jobs data, Wednesday CPI and Thursday Retail

Sales.