Touched a low of $1.2742 in opening Asian.....>

CABLE: Touched a low of $1.2742 in opening Asian trade Tuesday before rate

recovered through the day to a Fed rate cut react/post fix high of $1.2844, but

failed to bring pressure to bear on Monday's recovery high of $1.2851. Rate

eased off to $1.2797 before closing at $1.2812. This late recovery gained pace

in early Asia as rate edged to $1.2831 but momentum quickly faded and left rate

to drift off to $1.2799 in early Europe. Markets now try to assess actions by

their respective central banks, with this in mind BOE Bailey at the TSC

(1415GMT) and BOE Broadbent (1800GMT) will be watched for clues. Ahead of these

events we see release of Final Svcs PMI at 0930GMT, flash 53.3 (market watching

to see if COVID-19 affects the final result). UK Official Reserves also due at

0930GMT. US ADP, Svcs PMI and non-Mfg ISM provide interest this afternoon, but

COVID-19 remains a key market driver and Central Bank reacts. 

- Support $1.2797/95, $1.2768/63, $1.2740. Resistance $1.2831, $1.2844/51.