Cable eases to a session low of 1.2840 in early trades
Sellers continue to keep near-term control and cable looks to be moving closer towards testing the overnight low @ 1.2836 with near-term support seen closer around 1.2820-25.
The pound is staying weaker in general as voting intentions continue to send mixed messages over the past few days, leaving traders with some indecision over how strong a lead does the Conservatives really have going into the election next month.
As things stand, the risk for sellers is if price moves back towards a test of the key hourly moving averages at 1.2880 and 1.2903. But the near-term momentum is on their side, so buyers have to be wary about a potential move towards 1.2800 instead.
Looking ahead, the key risk event for the pound today will be the YouGov MRP poll release later at 2200 GMT. I've given a preview of that here yesterday so just be wary as that has the potential to help cause a near-term swing in the pound later today.
