Free Trial

Corrective pullback from its..........>

EURO-STERLING
MNI (London)
EURO-STERLING: Corrective pullback from its Tuesday post Withdrawl Bill defeat
high of Gbp0.8655 extended through Wednesday's session to a low of Gbp0.8448,
holding just shy of its 61.8% retracement of Tuesday's rally from Gbp0.8476 to
Gbp0.8655 at Gbp0.8544. Cross currently trades around Gbp0.8560 as we approach
tonight's Parliamentary votes. Sterling has been enjoying some support through
the day as market sees UK edging more toward a soft Brexit. Vote tonight on
taking no-deal off the table ahead of Mar29. If Parliament reject no-deal
attention will turn toward a vote Thursday on extending Article50. 
- Support Gbp0.8548-44 ahead of Gbp0.8530 then Gbp0.8500. Resistance Gbp0.8580,
Gbp0.8650/55. 
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com
MNI London Bureau | +44 203-586-2231 | john.webb@marketnews.com

To read the full story

Close

Why MNI

MNI is the leading provider

of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.

Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.