• Profit-taking on longs helps deflate cable to 1.2866 (intra-day low)

• 1.2924 was fresh four-month high in early London trade (1.2560 = Feb 28 low)

• GBP negatively impacted by UK construction PMI miss; 44.6 vs 49.5 forecast

• UK firms see faster price rises and smaller pay increases, BoE survey shows

• BoE MPC members stuck to 'cautious' and 'careful' rate stances on Wednesday

• U.S. jobless claims data due at 1330 GMT; 235k f/c. NFP due Friday; 160k f/c

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