EUR/GBP last deals at Gbp0.8633, 20...>

EURO-STERLING: EUR/GBP last deals at Gbp0.8633, 20 pips lower on the day, as

sterling draws support from a report by the Sun saying that "the DUP have

privately decided to back Theresa May's Brexit deal next week when she toughens

it up, in a major breakthrough for No10." Worth highlighting that the report

states "They are close to agreeing an amendment to another showdown Commons vote

on Tuesday that would curtail the unpopular Irish backstop - an insurance policy

that divides the UK into two different legal regimes if there is no EU trade

deal in place by 2021. In a crucial shift, it has emerged that the DUP are now

willing to accept a backstop as long as it's specifically time limited." Likely

a non-starter with the EU, with EU chief negotiator Barnier repeatedly noting

that the backstop cannot be time limited. 

- After a brief look below, bears look for a clean breach of the Apr 17 & 2018

low of Gbp0.8621 before challenging the lower Bollinger Band (3%) at Gbp0.856.

Meanwhile, bulls need to return above yesterday's low of Gbp0.8674 before

targeting Gbp0.8693, which represents the lower boundary 1.0% 10-DMA envelope.