1.2509 is low water-mark for cable since its 1.2548 Asian session peak

1.2548 is highest level since April 12 (1.2558 was high that day)

BHP adviser canvassing investor views on improved Anglo bid, sources say

News of BHP's 31 billion pound offer for Anglo lifted GBP/USD last week

CFTC data showed net GBP position recently flipped from long to short

Flip accompanied cable drop to 5-month low of 1.2299 at start of last week