• GBP$ ekes out small gain in Monday trading, +0.06^ at 1.3643; Mon range 1.3653-1.3548

• Trump says Iran ceasefire is 'on life support' after he rejects Tehran's response

• Pair eyed May 1 trend high at 1.3658, unable to rise above, remains in 1.3448-1.2658

• Recent trading hovered on top side of range b/w daily cloud top (1.3514) and May 1 high

• Cable rallied off early political-related lows as PM Starmer pleads for time

• UK rate expectations remain elevated +66bp priced by YE 2026; 10-yr gilt yield abv 5%

• GBP$ res 1.3658 May 1 trend high, 1.3712 daily high Feb 11, 1.3724 upper 30-d Bolli

• Supt 1.3600 psychological lvl, 1.3566 bruised 10-DMA, 1.3514 daily cloud top

(Paul.Spirgel is a Reuters market analyst. The views expressed are his own)