Second set of UK data disappointed............>

CABLE: Second set of UK data disappointed Wednesday and pressed cable to a low

of $1.4173 with recovery in NY able to touch $1.4246 before it settled between

$1.4200-10 into the close. Tuesday saw the earnings component of the Employment

Report miss expectation of 3.0%, coming in at 2.8%, while Wednesday's headline

CPI released at 2.5% vs expected 2.7%. Today brings Retail Sales with market

already looking pessimistic due to the poor weather conditions in the period.

Market expectation -0.6%MM vs prior 0.8%MM(Ex-auto fuel -0.6%MM, prior 0.6%).

With short term longs seen trimmed a surprise release to the stronger side

should prompt longs to be reinstated. Weak release will see another wave of

downside pressure and could see market challenge support at $1.4175/65.

Resistance seen between $1.4245/60. Eur/Gbp remains buoyed back above Gbp0.8700

though upside progress so far has met resistance at and above Gbp0.8720. A clear

above this area would then bring the topside of the 1.0% envelope, today coming

in at Gbp0.8779. Notable that the House of Lords, as much expected, defeated the

Govt on the issue of staying in the UK-EU customs union after Brexit.