• Cable falls to 1.2963 after UK pay growth comes in fraction below forecast

• 5.8% vs 5.9% f/c. 1.2963 = intra-day low. 1.2986 was low just before UK data

• Bids likely pre-1.2950 (1.2956 was Wednesday low; 1.2953 was Tuesday low)

• 1.3015 was new 19-week peak in Asia (1.3010 = Tuesday/Wednesday high)

• BoE rate hold expected at 1200 GMT; at least two MPC members to vote for cut

• UK fiscal update next week. Fed in no rush to cut rates; Trump disagrees

GBPUSD

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