• Cable has traded a 45 pip range thus far Tuesday; 1.3260-1.3305

• 1.3260 was Monday low too (1.3261 was Thursday low; 1.3264 was Friday low)

• Fed rate hold expected Wednesday; 25 bps BoE rate cut expected Thursday

• CFTC data: net GBP long rose 3.5k to 23,959 contracts in week ended April 29

• GBP/USD resistance levels include 1.3336 and 1.3345 (Thursday high)

• UK April final services PMI due at 0830 GMT; 48.9 f/c, as per flash estimate

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