Recovery off the Oct24 low of $1.2789 has.....>

CABLE: Recovery off the Oct24 low of $1.2789 has extended on to $1.2944 in early

Europe trade this morning, the move aided by post FOMC pressure on the USD,

expected USD sales at today's month-end fixes and reaction to reports that there

appears to be a split seen in the Brexit Party's election stance, a senior

official stating that they may pull candidates from opposing Conservatives and

concentrate on Brexit supporting Labour constituencies, which goes against

leader Farage wanting candidates for 600 seats. Resistance seen between

$1.2950/60 (Oct24 high/76.4% 1.3013-1.2789), a break to expose $1.3000. A break

of $1.3013(Oct21 high) to boost upside expectations. Traders note that the Nov1

NY cut has some decent sized option expiries, the day expected to have been the

aftermath of a Oct31 Brexit. Expiries for Nov1 include $1.2900(Gbp2.85bln Gbp

calls), $1.2950(Gbp1.12bln Gbp calls), $1.3100(Gbp1.41bln Gbp calls),

$1.3150(Gbp2.51bln Gbp calls). Cable support $1.2900/1.2895, $1.2850/45.