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GBP is ticking higher on reports that UK...>

STERLING
STERLING: GBP is ticking higher on reports that UK PM May is to seek a new
Brexit transition agreement to 2023.
- "Britain will propose another transition covering customs and trade that will
follow the period already agreed, scheduled to last until the end of 2020, The
Times understands."
- The Times notes that "the prime minister's new proposal has not yet been
tabled in Brussels and faces opposition from EU negotiators and
Brexit-supporting Conservatives."
- Cable last ~20 pips higher at 1.3368, EURGBP at 0.8760. GBPUSD's initial
hourly resistance at 1.3365 has been breached, with the next level of resistance
noted at the May 21 low (1.3391). EURGBP support lies at yesterday's intraday
low (0.8739) followed by the May 21 low/cloud base (0.8720).
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com
MNI London Bureau | +44 0203-865-3809 | anthony.barton@marketnews.com

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