• Cable has traded a 16.5 pip range thus far Thursday; 1.3590-1.36065

• Those parameters are well within Wednesday's 1.3579-1.36435 London session range

• Iran reviews U.S. peace proposal. Trapdoor creaks for dollar if Iran war ends

• Voting underway in UK local elections: polls close at 2100 GMT (results Friday-Saturday)

• Ladbrokes shortens odds for Andy Burnham to be next Labour Party leader

• BoE's Lombardelli due to speak at 0800 GMT; Mann due to speak at 1420 GMT

GBPUSD


(Robert Howard is a Reuters market analyst. The views expressed are his own)