Sterling came under pressure earlier in the...>

CABLE: Sterling came under pressure earlier in the day, partly as a reaction to

the release of weaker than forecast UK Mfg PMI though some pointed to a decent

sized RHS order that propelled EUR/GBP higher. Cable was pressed to a low of

$1.3044, holding just shy of its 200-dma at $1.3040 which , if it had closed

below would have provided for a bearish tone into next week. However, rate

recovered to $1.3102 but has struggled to build on its show above $1.3100. Rate

currently trades around $1.3078. EUR/GBP traded to a high of Gbp0.8793 before it

dropped back to Gbp0.8746, settling around the Gbp0.8864(this level having

provided decent resistance earlier in the day). Despite the day's bruising the

pound remains fairly buoyant as we approach the weekend with attention to be set

on the weekend press as regards Brexit.