Free Trial

(U2) More Stable But Still Fragile


The R Word


(U2) Back Above Bear Trigger

Real-time Actionable Insight

Get the latest on Central Bank Policy and FX & FI Markets to help inform both your strategic and tactical decision-making.

Free Access
CABLE: GBP/USD stuck to an extremely tight range on Wednesday.
- UK PM May's meeting with EU's Juncker failed to deliver a final Brexit deal
agreement. Negotiators are said to be working through the night, with May
scheduled to return to Brussels on Saturday ahead of Sunday's EU summit.
- France and Spain continue to pose the immediate threat to matters on the EU
side, while the bigger question remains, will May be able to get the UK-EU
agreed deal through domestic parliament?
- Cable last $1.2778. Support noted at the Nov 15 low and trend line support
from the Aug lows at $1.2724/06 ahead of the August YTD lows at $1.2662. To
reignite upside momentum, bulls need to break above Monday's high at $1.2883 and
then the 100-DMA at $1.3008.
- Brexit matters will dominate GBP for the remainder of the week.
MNI London Bureau | +44 0203-865-3809 |
MNI London Bureau | +44 0203-865-3809 |

To read the full story

Why Subscribe to

MNI is the leading provider

of news and intelligence specifically for the Global Foreign Exchange and Fixed Income Markets, providing timely, relevant, and critical insight for market professionals and those who want to make informed investment decisions. We offer not simply news, but news analysis, linking breaking news to the effects on capital markets. Our exclusive information and intelligence moves markets.

Our credibility

for delivering mission-critical information has been built over three decades. The quality and experience of MNI's team of analysts and reporters across America, Asia and Europe truly sets us apart. Our Markets team includes former fixed-income specialists, currency traders, economists and strategists, who are able to combine expertise on macro economics, financial markets, and political risk to give a comprehensive and holistic insight on global markets.