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Timeline of key events (Times BST)


Timeline of key events (Times BST)


Bearish Threat Remains Present


Through Last Week’s Highs

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MNI (London)
CABLE: Following the break below $1.2248 support Wednesday cable extended its
corrective pullback to retest the Apr7 low of $1.2166 where it met decent
support in early NY. Rate recovered through the balance of the US session,
edging its way to $1.2232 into the close. Rate extended this move to $1.2239 in
early Asia before momentum faded and it eased off to $1.2203. Recovery efforts
ahead of the European open were held below $1.2220, though the Asian session was
described as generally subdued. 
- No clues from EUR/GBP as the cross holds back within its technical 1.0% 10-dma
envelope, topside Gbp0.8874, 10-dma Gbp0.8786, envelope base Gbp0.8698. 
- Cable support now seen at $1.2200, $1.2180 ahead of stronger $1.2166.
Resistance $1.2220, $1.2240/50.
- A light data/speaker calendar in the UK Friday.
- Risk remains a key driver with Brexit transition bubbling away in the
MNI London Bureau | +44 203-586-2231 |
MNI London Bureau | +44 203-586-2231 |

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