Sharp pullback Wednesday from cable's UK......>

CABLE: Sharp pullback Wednesday from cable's UK CPI react high of $1.3215 to a

low of $1.3099 as market pulled back on reports that the UK and EU remain at an

impasse on the Irish border question in Brexit negotiations. Move squeezed out a

lot of the weaker speculative longs which fuelled the dip. However, fresh demand

moved to take advantage of the fall, most seeing that some compromise agreement

will be reached rather than a no-deal exit. Recovery met resistance into

$1.3170, support on the pullback at $1.3120 before rate settled between

$1.3145/50 into the close. Early Asian dip to $1.3135 before rate slowly edged

higher, meeting resistance around $1.3154. UK Retail Sales at 0830GMT provides

the data highlight of the day. Market looking for some pullback in August's

numbers to July's strong show, market median -0.2% mm for headline and ex-auto

from previous 0.7%/0.9% in July. EU Summit in Strasbourg continues with traders

to be on Brexit headline look out. Cable support $1.3126/20 ahead of $1.3100.

Resistance $1.3170 ahead of $1.3200 and recent high of $1.3215.