Tracked EUR/USD's recovery, which helped......>

CABLE: Tracked EUR/USD's recovery, which helped cable get a reprieve from recent

downside pressure. Rate had touched a low of $1.2606, met initial resistance at

$1.2650 before it broke on to $1.2684, before it settled above $1.2670 in post

Europe trade. Political pundit Robert Preston suggestion that PM May would step

down rather than be ousted also helped to alleviate recent negative pressures,

though rate has some work to do to completely reverse the recent trend. Long

weekend approaching (Whitsun weekend in the UK with a holiday Monday) which

could prompt some position adjustment. Journalists watching the activity in

Downing Street have upped expectation that May could go Friday, rather than

leaving it until after the weekend.

- Resistance seen into $1.2685(38.2% $1.2813-1.2606) ahead of $1.2700/10 and

$1.2730/35. Support remains at $1.2610/00, though chance we could see some

interim support emerge around the $1.2650 and $1.2625/20 levels.

- Friday data includes UK Retail Sales at 0830GMT. Political and Brexit

headlines remain key drivers.