Recovery off Wednesday's low of $1.2121.......>

CABLE: Recovery off Wednesday's low of $1.2121 extended through its NY high of

$1.2168 in earlier Asian trade, the rate touching a high of $1.2175 before

faltering. Move failed to bring any pressure to bear on Wednesday's high of

$1.2191. Rate eased back to $1.2159 ahead of Europe, currently trades around

$1.2168. Resistance remains at $1.2175 ahead of the 10-dma which currently comes

through close behind at $1.2182. A break here to relieve some of the recent

bearish pressure, though needs a move through $1.2190/1.2110 to expose recent

high of $1.2250. Support $1.2140/35 ahead of $1.2120.

- A light data calendar in the UK Thursday. Focus remains on US-China trade spat

(PBOC CNY fixing now becomes barometer for risk) and Brexit speak for

directional impetus. Speculation for a General Election being called this year

increases, The Sun suggesting Johnson may go for Nov1. 

- Option expiry of note for today's NY cut, $1.2300(Gbp1.02bln)