• Cable is back below 1.35 before Andy Burnham becomes Labour leader

• 1.34585-1.34789 is Friday range-to-date (1.3460 was Thursday low)

• Burnham will replace Keir Starmer as Britain's prime minister on Monday

• Pound set for third straight weekly gain (sterling shorts squeezed midweek)

• 1.3556 was nine-week high for GBP/USD Wednesday, on FT's Mahmood tip

• Cable was sub-1.32 before Starmer's resignation speech on June 22

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