Sterling retains a fairly buoyant tone in.....>

CABLE: Sterling retains a fairly buoyant tone in early European trade, the rate

having posted an early Tokyo low of $1.2825, as it extended its corrective

pullback off the post Meaningful Vote recovery high of $1.2890, on reported

GBP/JPY sales. However, buyers merged into the dip to correct rate back to

$1.2873, trading around $1.2850 in early Europe. Traders see rate within an

outside $1.25/1.35 range, a break of either side only to be seen if anything

major breaks. PM May expected to win today's Govt no-confidence vote, but should

she lose the base of that range likely to come under pressure. Market seen

taking direction by perception how far the UK is away from a Hard-Brexit. 

- Support $1.2825/20, resistance $1.2890, $1.2915-30.