• Cable has traded a 31 pip range since the London open; 1.3602-1.3633

• The peak of the range is 15 pips shy of Tuesday's 41-month high

• 1.3592 was NY session low Tuesday, before U.S. consumer confidence miss

• Fed's Powell to deliver more monetary policy testimony from 1400 GMT

• Markets currently see 20% chance of Fed rate cut on July 30

• BUZZ-Labour rebels could hurt Starmer, sterling (vote slated for July 1)

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