By John Nestor

CROMWELL, Connecticut (Reuters) - Sweden's Fredrik Jacobson put himself in position for his first PGA Tour victory by capping a flawless round at the Travelers Championship on Saturday with a birdie on the last hole for a one-shot lead.

Jacobson, who has not recorded a bogey all week, fired a seven-under 63 that moved him to a 16-under total of 194 to lead American Bryce Molder (64) into Sunday's final round.

The Swede, who won three times on the European Tour in 2003 but nowhere since, started the day four shots off the lead but took advantage of ideal scoring conditions as the sun finally

broke through after days of rain at TPC River Highlands.

He carded three birdies on the front nine and four more after the turn, including one on 18 where he drained a monster 31-foot putt for the outright lead.

"It was a little bit of a speedy putt and it had a bit of pace so I was hoping it would hit the hole," Jacobson said. "I was certainly happy when it hit the hole."

Molder, also seeking his maiden PGA Tour win, had seven birdies and a bogey to be well placed for Sunday.

American James Driscoll (64) was alone in third a further two shots back with a clutch of players tied fourth four strokes off the pace.

"It would mean a lot (to win a PGA title). That's why I came over and I've been here quite a long time now," Jacobson said. "I won a few times in Europe and I came over because I wanted to see if I can win here. That's always been my goal."

Patrick Cantlay, who took a one-shot lead into the third round after becoming the first amateur to card a 60 on the PGA Tour on Friday, was five shots back after a bogey-bogey finish that saw him slump to a 72.

HALL OF FAME

Cantlay, whose record round will be featured in a display at the World Golf Hall of Fame, made long birdie putts at the ninth and 11th but was unable to build on the momentum.

"I didn't hit it very good today and I hit a couple bad drives coming in and it cost me," Cantlay said. "I could have made a couple more putts, as it is in every round.

"But I'm in a good position and probably would have taken it at the beginning of the week, so I'm in a good spot and I'm going to play well tomorrow."

The second round was finished Saturday morning with the cut set at four-under, a tournament record.

Among those who missed the cut were former U.S. Open champions Geoff Ogilvy and Jim Furyk, British Open winners Justin Leonard and Ben Curtis as well as Americans Anthony Kim and Kenny Perry, the winner here in 2009.

(Editing by Ian Ransom)