GBP was pressured by a story suggesting....>

STERLING: GBP was pressured by a story suggesting that UK officials are said to

see "no Brexit deal until next year" (released late on Thursday).

- GBPUSD last trades at 1.3805, with EURGBP at ~.8920, off of worst levels

against both the EUR & GBP, but still feeling the pressure.

- Looking at cable from a technical perspective, the foray to lows ran out of

steam around 1.3790/95, which represents the hourly congestion zone from Mar

2-Mar 5

- For EURGBP a move above the 1% volatility band at 0.8968 needs to be sustained

before the Nov 28 high at 0.8981 becomes viable, ahead of stronger resistance

from 0.9013. To the downside, support comes in at 0.8905.