EU Barnier comments Wednesday's.......>

EURO-STERLING: EU Barnier comments Wednesday's helped EUR/GBP extend its

corrective pullback, the rate having moved outside of its 10-dma 1.0% envelope

topside to Gbp0.9098 Tuesday(topside that day Gbp0.9085), to Gbp0.8983 in NY,

with trade in Asia and into early Europe today keeping that downside pressure on

as rate eases on to Gbp0.8975. As has been mentioned on Bullets several times,

this cross tends not to 'like' trading outside of its 10-dma 1.0% envelope and

will usually reverse sharply back into it (true for base as well as topside).

Topside of the envelope today comes in at Gbp0.9094, base Gbp0.8913. The 10-dma

currently comes through at Gbp0.9003. Brexit headlines remain a key driver for

sterling pairs. Traders will watch for any month-end EUR/GBP demand to emerge, a

certain EZ Sovereign name often has this account adjustment interest.